Deregulation has meant more people have access to the skies thanks to lower prices (the government used to mandate high prices most people couldn’t afford). Flying has become more small-d democratic. Without government protection for airlines wages haven’t grown.
Working as a pilot was once glamorous, but the relative status of pilots has fared (somewhat) better than flight attendants. Some of the same effects have influenced the way we regard pilots today versus 40 years ago, although there are additional factors that have made serving as a flight attendant fall in status even more than flying up front.