The article basically argues that they didn't "cave" - instead they made a rational choice to write contracts that were detrimental to the long-term viability of the company in return for short-term margins and profits.
The same could be said for the legacy airlines. They made their contracts under regulation, where they could raise rates to match their labor costs without fear of competition, and now are suffering the consequences.
The same could be said for the legacy airlines. They made their contracts under regulation, where they could raise rates to match their labor costs without fear of competition, and now are suffering the consequences.