SR, that's exactly what I have been saying to my colleagues in the crew room and on the flight deck for ages. The management have a responsibility to the shareholders to run the airline for max profits. If they can can get aircrew to fly for less money, they will. They will not give up anything if they can help it, the only way is if they are forced to. Indeed some would say they are negligent in their responsibilities if they did.
Once the cost of a disgruntled workforce outweighs the cost of a decent settlement they will act, it's just business. This is why all these ballots with smoke, mirrors, recommendations, minor concessions etc. are a complete waste of time.