no mainline pilot will fly a 175 at anywhere near regional rates
True. But it's better for the mainline to have a mainline pilot fly a -175 on a specific route, than to have no one available to crew any aircraft for that same route.
The Pilot Shortage has just begun...with no one for the regional to recruit from, the only choice for the mainline is to fly using a mainline pilot, or to recruit someone into the training pipeline who will end up flying for mainline down the road.