Yes, WN is very intentionally avoiding selling seats more cheaply than it has to. This is why FTers report that WN's prices are sometimes higher than legacies for long-haul flights at peak times booked far in advance. WN's pricing suggests to me that the legacies are underpricing their product in these instances, especially if the flight ends up full.

If there ever was a time to operate with lower loads at higher fares, this is it. Customers need to be trained NOT to wait for $99 or even $149 transcon fares. Furthermore, lower load factors dramatically improve the flight experience for people who do fly. Getting 3 seats when you only paid for one is fantastic!