Exactly, and this is a HUGE contributing factor to why the big three automakers are begging for a bailout. I used to know a guy whose mother put two screws in the back of a glove box and she made huge pay and benefits.
I agree with most of what you said, though. Unfortunately, salaries and benefits are usually set by what the market will bear. The automakers hoped to share the expenses by over-pricing their cars. The big three automakers are discovering something that Honda, Toyota, and others discovered long ago - there aren't ENOUGH people willing to pay those kinds of prices for those kinds of cars.
Conversely, the airlines can't figure out how to get consumers to actually pay enough for what they are getting. Everyone wants a $99 round trip ticket, and the masses shop purely by price. Some airline is willing to pay next to nothing to some starry-eyed and wet-behind-the-ears pilots while cutting back on "amenities" to give the consumer a lower price and win the purchase.
When I said that I was looking for "SOMETHING", I was not meaning that I would settle for one of those companies. I am too old and have too many qualities marketable in other industries to be treated like that. If I am going to go to a regional, it will be one of great reputation, good second year pay, "good" QOL, etc.