There really aren't that many people who are doing the cheap mileage runs and cashing in for first class tickets. I've been doing it and I love it. I work with people who travel frequently (teachers), but I've never talked anyone into doing mileage runs.
I'm known as the weird guy who will fly to Europe or Asia and stay one night, then fly back.
The fact that I am flying a $50 first class ticket to Europe in summer when my colleague is flying a $1000 coach ticket doesn't impress most people as a reasonable trade off. Almost all people plan a trip and want to fly on a particular day and go there directly. The accumulation of extra miles by taking a couple of side trips and a couple of extra days traveling on a plane and sitting in airports is just not worth the extra time involved.
I am happy with my upgrades, miles, and perks. They are happy with their succinct, highly planned trips. To each his or her own idea of what is $ or time-worthy travel.
I never had airline loyalty until I started this mileage accumulation lifestyle. If miles were to go away, then so would my specific airline loyalty.