Yes there is a shortage of LA E's who are experienced, well qualified and who can justify being paid an LAE wage.
Yes it is an aging industry, many retiring and not being replaced with like for like, experience etc wise.
Should an LAE be paid the same as a Pilot ? no - totally different skill set and whilst certifying for safe and correct maintenance, an LAE will never have the responsibility level of a Pilot.
Should an LAE have the same respect as a Pilot ? That is something both have to earn - neither receives it as a right and many in both trades/professions are simply not worthy.
Not to worry however - the "A" License will address any concerns the maintenance side of the industry may have as will the 200 hour cadet on the Piloting side.........