I worked in the industry (albeit for only about 6 months…). I completely believe that people who don’t bring bags or choose seats are saving money. Hell, if you don’t care when you anrrive you can get the anirline to pay /you/ in the form of a voucher for a later flight. Even in the face of inflation the base-price of an airline ticket has remained relatively constant for half a decade.

What has changed is that you get less and less convenience for your $ in coach. Most flights make most of their money on the 5 business travelers who pay 5-10x the minimum seat price the day before the plane leaves.