Even if this does pass, the law of supply and demand will dictate whether or not Allegiaint will be able to maintain enough pilots to run the airline.
American, Delta, and United are going to hire something like 10000 pilots over the next 5 years. Allegiaint will have to compete with that or simply go out of business. This t/a isn't just about keeping the current pilots from jumping ship but about being able to recruit future pilots. If it doesn't measure up then candidates will bypass them for another airline. Then they'll either have to raise the pay and or work rules or be consigned to steadily shrinking.
Whether or not management would want to improve the work rules doesn't matter if they can't get enough pilots to work for the current ones.