But Isn't that the case? EK fares are 2-3 times as much on the ATH-DXB route. Routes including a transfer somewhere are similar or even a little more expensive. Aegean is definitely undercutting the market with current prices.
While I personally absolutely agree on the aircraft type, I also believe that the average traveller does not. Few people, but the hand full of enthusiasts, will realise that an A32N is less comfortable than a B773 in the same class of service.