Yep agreed. You could also say that Australian pilots have had their pay and conditions significantly reduced over the years as a result of bankruptcy and new carriers emerging out of the ashes.
It is now apparent across most continents that the model of unlimited supply of qualified pilots is in decline.
The trick now for pilots is to understand that most of the well worn threats date from a time where too many pilots for available jobs was the mantra.
Ask yourself what happens if supply is limited?
If I were an airline knowing what we face locking in a labour unit cost floor by any means would be my target.
If pilots realise the threats although effective in past times have lost their gloss, they may realise once and for all the emperor never had any clothes..