I agree. I often spend more to fly to Thunderbay, North Bay, Sudbury etc from Toronto for which I get 1000 miles round trip than I do to fly to Heathrow where I can also use my E-ups and I receive 7000 + miles.
I for one do not believe that a full Dash 8 with junior pilots and one flight attendant is less profitable per seat that a 767 or 777 to LHR.