I think it' s a lot to do with the cost. The cost of training a brand newbie today is a lot different than it was for some of us old farts. Plus the career expectations are a lot different.
I think a lot has to do with the "portfolio" concept and the amount of newbies willing to sell their soul to burn Jet A. Couple that with the amount of old farts at the majors that are deathly afraid of putting up a fight and voila, here we have the pilot profession in the new millennia!
"Let's just get the jets on property, woo! This beats flight instructing!"
"If we don't take cuts, they'll get my pension! Daggummit they done got it anyway"
Then the group is slowly gets the rates to a more respectable level and then the flying is subcontracted out to a lower cost capacity source.
On the major passenger level, it's going to be "But we're just recovering! You're going to kill the bronze-plated goose!"
Rinse...
Repeat.