I would venture to say that flight time in itself has value. Therefore if an instructor is giving away their services for free they still are receiving the logbook entries as compensation.

It is the invisible hand of the free market at work. Instructor "A" wants $20 an hour but instructor "B" is willing to do it just for the flight time. It is no different than a regional first officer who is willing to fly for $18 a flight hour over a legacy FO who wants $65. As a result the regionals are taking over the market.

It all boils down to who wants it more. What is it worth to you? It has been made clear to me that long ago aviation stopped being a profession and has evolved into a labor of passion. Take that same financial sentiment into another place on this forum and you will be shamed into a corner to suggest that pilots fly for money.

It is about the love. If you love money then become an accountant. If you love aviation work fast food at night so that you can fly for free during the day.

Skyhigh