I think G-AWZK is getting a little over excited predicting the demise of WW. The moves that WW has made in the past few months suggests an airline that is trying to define itself in the marketplace. They have refreshed their brand, renewed their livery and website, launched a new 'base' at BHD, expanded where they are recognised - in the midlands. Just like Jet2 can be the LCC for the North, baby can be the LCC of choice in the midlands.
There are issues at Baby but bringing back BD mainline, or some sort of BD lite/BD UK regions,etc would probably add cost. Mainline offer *A benefits, free baggage, a two class product, etc. The WW marketing budget is probably less than the cost of this would be across the network, *A membership and a handful of status miles is not really going to draw too much custom to the Balearics.
There is nothing 'wrong' with the classics. Look at the job Norwegian have done with theirs. Overhead bin extensions, new ceiling panels, lighting, a deep clean and slimline Recaro's would transform the fleet from a customer point of view.