So if the flight is delayed 3/6h passengers just get get price of the rest of the ticket automatically refunded?

I don't agree with EU 261. It's one of the reasons aviation in Europe is in a race to the bottom and pay can't keep up with the US. It's one thing to get a full refund which will be expensive. But why does a passenger actually need to make money on a delayed flight? Sometimes way more than they paid for a ticket.