Your scenario is not that far fetched from a future reality. Pilots at regionals have overwhelmingly showed they are willing to put up with low pay and the like while pilots at majors have overwhelmingly showed their willingness to sell scope for personal enrichment.

In ten years, I predict the regional airlines will fly approximately 65% of all airline passengers in the US. There will be mass regional consolidation. Upgrade times will be in excess of 10 years at the regionals hence the deep desire to see pay scales at 12/4, what other reason is there for 12/4?