Let me also refine this point a bit...

For those who are not at the majors, staying in aviation even if at a lower pay scale makes sense.

Every hour I fly makes me more competitive to get to the majors. If I leave the career, even temporarily, simply because the pay is lower than what it used to be, I am no longer advancing my career.

If you are climbing the ladder then it is better to continue flying, even if at near minimum wage (assuming your budget can handle it) than to stop flying.

So if I was a regional CA and I was making $100k, and they dropped it back to $40k because of economic reasons, it would still benefit me to continue flying a greatly reduced pay because it means my options would gradually increase as my hours build.