Mr Mac,
Yes, BA's face has changed over the years but the company's traditional values haven't. The ultimate objective is customer satisfaction and so repeat business from customer retention. Has BA done that? I would like to say yes, to a good enough extent. You had very fine words there.
I will praise BA for taking the courage over the years in being flexible with competition and adapting with it. BA has had options for example of choosing to move down levels (low cost, et la) in it's service but this would have highly impacted the quality of the product/service and so customer satisfaction would have suffered. So changing the face of the Airline in line with competition and of course the market place I think has been such a courage.
Customer feedback and survey take their place in the way BA is run for high impact areas of the business. It has to be that Recruitment and training too adapt to demand. One powerful thing BA has remained in the top half of the competition is it's ability to predict the future. There MUST be a thing or two the company chooses to "select certain candidates" for a role and not the other.
My question is would BA thrive in the current competition with that BOAC/BEA product?