Why would any business worry about trying to snap them up? If they were not already flying with you, then you obviously had insufficient appeal. If the loss of AA means they need to use another carrier they would only come to you if it suited them. I suspect these are not customers who can be "snapped up" if you have nothing to offer them.

For example with the demise of BD I am awaiting to see what appears as an alternative. I already have *G, and have BA Gold too - so nothing to be offered there for me. If the AF/KLM alliance were trying to "snap me up" it would be pointless, they don't fly anywhere I do and it is years since I sat on one of their aircraft. I would just have to go with the airline that goes where I want to fly. Of course for those who gather miles by shopping and not by flying the planning is very different - and status does not come from shopping!