Agree with this, but I doubt we'd see anything radical or quickly. Armed with actual information now, and with somewhat of a crackdown on loaning out money, young people have the ability to make a better choice and actually understand some of the intricacies of the industry. Prior to this information age, it wasn't well known and the implications of getting into the industry were somewhat secret.

On the other hand, never underestimate SJS and "can always find someone". I think we'll see some of these traditional avenues dry up to some extent, but not fast. Majors will have to take back some of the flying, regionals will exist to a smaller extent just like you say, and there will be a better chance of someone who gets into the industry "making it" to majors, because regionals will be smaller than majors again.

This goes along with the idea I've had all along, there are simply too many pilots, too many planes, and too many airlines out there. Although the market drives the "price", if they can no longer find pilots willing to work for those wages/conditions, then the supply shrinks and demand is relatively larger, which is exactly what you want with a business. This means less pilots with airline jobs, but it means better jobs for those in the industry.