Hey 86,
we said there would be a shortage not if it would be a good one. Just like there is a shortage of people willing to pick fruit on a farm(and yes I've done that too). Doesn't mean there will be good jobs, just that there will be jobs. Low paying regional jobs be available shouldn't mean the industry is getting better. As mentioned there are plenty of people on furlough not running back to hop into a regional jet anytime soon.
I just hope people realize a shortage of pilots doesn't mean improvement in working/QOL/pay. Companies goal is to make money not lose it.