Inaccurate analysis, IMO. As you state, C2k went above the declining line and was in effect a correction. However, the "drastic correction in the other direction" was not a reaction to C2K or a direct result of it. It was a once in a lifetime opportunity via one of the darkest times in our industry for an unethical management to take advantage of the situation and attempt to permanently reset the value of our profession at a much, much lower level. So far, their plan appears to be working quite well, with pilots like yourself expressing support for it.