At some point if the business has cut pay and benefits too much, combined with new ATP min requirements, age 65, and new rest rules, the worst paying/quality of life employers will not be able to get the far fewer willing to work under those crappy contracts in the door.
Also, if every pilot group refuses pay/benefit/work rule cuts hundreds of multimillion dollar airframes can't and won't be parked overnight! No way can all the feed be replace or shuffled that quickly, nor is there enough "slack" in any airlines training departments(or sims) to pick up any significant amount of flying in a reasonable amount of time.
All any pilot group would accomplish by taking cuts would be lining managements pockets as they give themselves bonuses for the pilots losses/sacrifices.