Earlier quoted context omitted.
> We used to regulate air travel. It was a lot more expensive then. I'm not sure this is the gotcha you think it is. Air travel, even in coach, was downright luxury compared to where it is today, and I'm not even talking about in the distant past, I'm talking about 25 or so years ago. Seats are narrower, legroom is practically nonexistent, and the seats only recline like two inches these days. Also almost everything…
Exactly. You can still fly businesses and pay the same price as before, it just became massively more accessible than before,
You can't really though - e.g. 25 years ago you could fly economy from Vancouver Canada to Sydney Australia for $2600. (Inflation adjusted.) You can now do that flight for $1400. Pretty good, but the kicker is that flying business class is now $5300. Even premium economy is $4400. (Prices are all the cheapest I see on Google Flights over the rest of 2024, so some of them are limited to very specific dates.)
Probably the most equivalent price to 25 years ago is basic economy plus paying for a meal, snack, checked bag and selection of an exit row seat, but today's premium economy is probably the most equivalent service level to yesterday's basic economy.