No....but you would be free to move laterally and compete for the job for which you are in demand at better pay without the shackles of a seniority list....this would force your current employer to either hire someone to replace you or raise your pay to prevent you from leaving.

Employers would compete on all levels to attract and retain pilots with benefits, days off, hotel quality and anything else to keep their investments from jumping ship.

Regional airlines as we know them would cease to exist almost overnight and would either evolve into a normal airline with competitive jobs and pay or dissolve away.

Your airline would no longer have the threat of your job hanging over you because you would have choices.

Of course this system would not benefit free loader lazy pilots who barely pass their checkrides, call in sick all the time and lack any real personality because they wouldn't be able to hide their shortcomings.

Of course unions and contracts can still exist without seniority lists and vice versa (despite the myth that many pilots believe they are mutual requirements) but since pilots' unions are the main pusher of the seniority system it probably wouldn't work without getting rid of them.

The real problem is helping pilots see past this narrow view of reality.