If the dream is fading its because we, collectively, were willing to settle for less (short term?? ) so as to get the big "pay day" later. While pilots aren't to blame for the bad management decisions which created the finacial meltdown leading to bankruptcy; pilots have been part of the problem when it comes to being brow beaten into accepting sub par terms. The union, whether ALPA, Teamsters, or in house, are there to protect the members, both from injury (safety and scheduling) and financially. The problem is unions look out for thier own members (within the bargaining unit) not for everyone else's (off the property). So we have regional airlines with bonafide unions being whip sawed against other similar companies. Scope clauses at majors (which should have prevented this from happening) with holes big enough to fly a (90 passenger ) jet threw have also exasterbated this issue.
If things are going to turn around its got to stop at the regional level, the major guy have been beaten by the courts and Washington politics (so much for your good friends the Republicans); the lowest level, the pilots with the least to loose and (long term) the most to gain, must work, hand in hand, to stop being played against thier fellow airmen. I'm not familiar with all the payers, but each major has its "team" that its playing against each other. Stop the fight for an incremental increase in staffing by giving away more pay, more time at home, more, more , more. You can't look at it as advancing your career because the regional you help (by bidding down your services) today is eating away at the major you hope to work for tomorrow.
Good luck, its going to take a strong, unified, (and IMHO p!ssed off), pilots group to stop the give aways. The good news is, as low as your pay is already you can't give up too much (in the junior FO's seat). Just say NO when your told you have to accept less to keep your job. And keep your options open.