There is another thread on this site reporting that VLM are looking to start a EXT-LCY route. I understand that reports in a local Devon newspaper have suggested this.
It may be that Devon and Cornwall will suddenly find that, rather than having no flights to speak of to the capital, they will be spoilt for choice.
What must be avoided is an over capacity from the region, otherwise there will be a danger that none of the routes will prosper.
Good luck to these services. At least EXT, PLH and NQY won't have to compete with BRS on a London service. Unless the M4 and Brunel's original mainline become totally eggbound!