Regionals will suffer with a lack of Captains and will probably fall into the trap where they can’t upgrade FOs quick enough to keep up with the walking skippers who are being hired onto the 777 in the sandpit.
Having been apart of recruitment in a previous job for a jet operator in this country, forget about pilot shortages on a narrow body. We opened up a ad for a FO, had about 200 applicants in a week. Most were based in the ME or HKG.
Ryanair has long history with that sort of behaviour. The Ryan Family had a share in a Airbus operator in this country and Asia once, cut Pilots pay to increase profits. Half the Captains walked costing it millons and a destroyed the brand causing it to rebrand years later. End result was then approaching pilots to take over 300k SGD to keep the place running.