The point of the article is that yes, the scenario where pilots can claim all airline profits is ridiculous, because is it sub-optimal for everyone -- pilots, passengers, and certainly investors.
It also never argues that pilots are "delivering value" equal to the airline profits. Only that the pilots are in a position, due to regulation, to claim those profits, because they can shut the airline down (a power that flight attendants, mechanics, reservation agents, etc don't have).
It also never argues that pilots are "delivering value" equal to the airline profits. Only that the pilots are in a position, due to regulation, to claim those profits, because they can shut the airline down (a power that flight attendants, mechanics, reservation agents, etc don't have).