The problem isn't "cheap" fares. There are several fine examples of airlines that are profitable with a fare structure that is lower than that of any of the majors.

"Mileage runners" (whoever they are) aren't flying for less money than anyone else -- nobody is offering a special discount for mileage runs.

US Airways isn't increasing fares with this move -- they're just punishing people who fly a lot when they happen to fly on lower fares. People who hardly ever fly (apparently you would be such a person) aren't impacted -- they don't earn elite status anyway. People who fly a mix of business and leisure (and what VFF doesn't?) are being told that their leisure travel no longer counts.

People who fly exclusively on the cheapest fares and who do so enough to qualify for elite status are also being told to get lost -- imagine that $15,000/year and your money is no good?

This helps the airline how?

Am I supposed to tell my clients that well, actually, I'm going to have to charge you $2,000 for what cost you $200 last week? Not too likely.

Are companies suddenly going to say to their business travelers "we understand, sure go ahead and book that $2,000 ticket -- those $200 tickets were too good to be true!" Not on your life -- it's about as likely as corporate IT saying "yes, macs are better. windows was a big mistake we'll switch tomorrow."

Yes, the model is broken. But these are the wrong changes -- the customer is not the enemy. If they want more money from the business customer then they ought to be talking to the business customer about what that customer needs and values instead of having this lame jack*** mouthpiece spout off about how this is the right thing to have done or making imbecilic comments in their press release and FAQ implying that customers somehow requested this by virtue of purchasing lower fares.