'I'd think the reverse is true - being able to charge "high" fares is an indicator of an attractive ("competitive") route.'
Well if its cheaper to take the train to London and then get over to LCY and fly there to Orly then Flybe have reached the point where their fares are too high to remain competitive. And yes they are a business trying to make money, and its great to be able to support and fly from your local airport, but good old Joe flying public are now realising that Flybe have crossed that line between paying a premium for that and having to pay uncompetitive,extortionate fares.