One one of two ways that I see.

1 is government intervention. This won't happen because airlines have lobbyists and can always "get their way" for their "economic success".

2 is if pilot's take a stand and do not accept cuts/demand higher pay. Then many airlines would not be able to survive, supply would finally be smaller than demand (which is what you want in any NORMAL business, rather than having excess of pilots and planes and routes), many pilots would lose their jobs, meaning less of a pilot shortage, but those pilots and airlines that would survive would be in a much better position to provide decent benefits and wages, because they could charge higher prices and would have less competition.

It's a lose-lose situation. At some point, this industry became artificially inflated and supported (buying into the idea that you can spend a few years at a regional and "hop" to a major, while the economics of airline flying changed and everyone and their daughter started a regional airline). It won't end well.

The execs are in the business of making money for them and the shareholders. At some point they'll SCREAM about a pilot shortage I'm sure, this will be because no one wants to work for them. If we are lucky, they might start to dry up and die at that time.