That's where the future of the US airline industry has to be. You either have to compete on product, or price. If you can do both - you'll rule the world.

Look to Europe: RyanAir and easyJet offer the lowest price. The best product - I'll leave that up to Skytrax to sort out. Emirates seems to really be bothering Air France, Lufthansa, and BA though. If they are having a hard time competing on product and/or price with Emirates, then AA, UA, and DL will too.

US legacy carriers are not the cheapest option. They're also not the best product (DL doesn't even offer first class internationally!). If some product differentiation into either low cost or best product doesn't happen soon, I have concerns about the long term viability of the legacy US airlines.

jetBlue is cheaper than any of them, and offers a better product (4 stars). I'm not saying jetBlue is the ideal, but it is an example of the challenge the US legacy carriers face when an airline can offer lower prices AND better service. Either lower the prices (like Spirit and Allegiant), or offer better service (4 stars, like Emirates, or 5 stars, like these carriers).

The 'jack of all trades' approach is dangerous, and may not have a long-term future without government intervention to prevent foreign carriers from making further inroads.