"I don't think flying is any more expensive relative to earning compared to 20,30 or 40 years ago"
With respect, I disagree. I recently renewed my expired instructor rating at YPJT (due to the many uncertainties involved with the Part 61 implementation). That exercise - which involved 2.6 hours flying in a C152 (1.3 practice + 1.3 for the test) cost $1030.
These days you pay airport fees to the greedy airport owners, ATS fees & GST - none of these were around when I learnt to fly & conservatively add around 50% more to the cost each flying hour...
Regards.
VH-MLE