I don't know about degenerated. This is a pilot's network after all, so how this affects pilots is likely to come up immediately and is entirely appropriate.
It is true that if the company profits every employee should do well even if they are stove piped in their current company within the group. but this does not mean that the pilot group could not collectively do better together.
Mr Snuffaluffagus, it would be great if we could all have the same career prospects that existed when we joined our employers (assuming they were good to start with) but that doesn't exist in any company, regardless of mergers or take overs. I know that if the lists are integrated traffic will not be all one way. And what constitutes a windfall at the expense of someone else? Not everyone wants the same thing, and what we want or need changes over time. So whilst an opportunity may disappear for some n the short term that same person may benefit from a different option down track that would otherwise not have been available.