You know...one could also blame capitalism or consumerism (whichever the term of the day is). The race to the bottom is just as much a fault of the passengers going to Buffalo for a cheap flight rather than flying from Pearson, or the CEO cutting jobs and wages to fill owners' pockets as it is our newest generation of pilots.
Unfortunately, no one is willing to pay the $1,500 - $2,000 it used to cost to cross the pond just to know that there are two people with experience at the pointy end who make a descent wage.
Pilot wages have gone down, in part, because of our own need to undercut one another and the reasons I describe above. That's why the MPL is here to stay. Canada just happens to have enough people willing to pay the exorbitant cost of learning to fly such that it will be a couple years until the MPL takes hold...but just you wait until the first day Air Canada or WestJet can no longer fill a ground school because of a lack of applicants.
Just my 2c.