The way I see it, CX has two choices. They can turn a once proud airline into a boutique carrier with local only pilots while giving away massive market share to HKA; OR they can treat their pilots with respect and retain employees that allow CX to compete for the market in HK.
Knowing CX as I do from my experience here, they will try to find a middle ground. They won’t really treat employees well at all, but they won’t default to being a boutique carrier either. They will continue to sacrifice market share to other carriers all while pretending to compete and treat their employees well. The Big Lie will continue. They will pretend to pay us, and we will pretend to work. Morale will continue to crater. CX will die a slow death, as it is already. Air China and others will pick at the carcus years from now, and those whom have left already will have looked all the wiser.