I really have mixed feelings. If both these mergers go through and fares on their routes increase substantially, it gives greater opportunities to take business from them to the smaller airlines that operate in their hubs. I can't predict how things will tumble and what the final results will be. In the news now is what de-regulation has done to generation of electricity in California. In essence the same thing has happened in air transportation.
Costs increase and service gets worse.
Look at what power the airlines had to possibly crush the passenger rights legislation in the last congress. I have been flying for more than 40 years and for 38 of those never had any baggage lost, delayed or looted. In the last two years I have had all of those things happen. Seat pitch has generally decreased, services have declined, food on flights is questionable or nonexistent. My last shuttle flight was less comfortable than my first flight many years ago on a Western Airlines DC3.