I think that the market can win whilst customers lose.

There are people who have been loyal to BA for years, if not decades that will either be forced because of connections or company policy to fly BA whilst facing a substantially worse experience (and likely a reduced status), or that will fly El Al and Virgin for the better product, but will have to deal with less convenience. Maybe their company forces them to stay with BA, good for the market, bad for the passenger. Maybe they switch to El Al, lose their status and struggle with Matmid's kafkaesque program, good for the market, bad for the customer. Maybe everyone will treat London as a short-haul, tourist, destination, fly the cheapest planes they can use, and cut service in a race-to-the-bottom to boost profits, great for the airlines/market, awful for the customer.

The accounts department at BA, LY, and VS, will do what's best for them, including corrections, and despite this, there will still be those who lose in both the short, and long term. The most vocal people in these threads used to commute weekly or monthly on BA and now feel we've been given an involuntary downgrade (without EU/UK261 protection) all because of "market forces."