It's worth remembering that the airline market is very competitive and this happens because it matches consumer preferences. Yes, nobody wants to be crammed into a tiny seat. But given the choice between a large seat or a tiny seat that costs $5 less, people reliably choose to save $5. The only reason the experience is so miserable is because the flying public will accept nearly anything to save a little money.
It's also worth remembering that there are various premium options available. You can pay extra for economy plus or really splurge on business/first. "That's too expensive" OK well you made your choice....
Premium Economy is so much more expensive than steerage class that it's not a realistic 'option' for the majority of potential passengers.
> " OK well you made your choice...."
The only choice for most people is "fly cheap" or "don't go".