Are you ready to give up your career for regulation and "stability?"
I might go for it if there's a national seniority list based on the original ATP issue date. Mine's 08/93.

Yeah, right, that will never happen.
Regulation: Who's going to decide who survives? On what basis? Can you see the lawsuits coming trying to decide this?
What about fares? Is the government going to keep them low enough to keep people flying? What if that fare basis is below cost? Will Uncle Barry pay the company the difference?
Unions. Will strikes be legal? I doubt it. They aren't for controllers.
In a free, open and fair market, the government can never compete with private enterprise. This includes police, fire, education etc. We just collectively chose not to handle it that way in most cases for peace of mind.