Airlines? Sure. Railroads? Not so much. The systemic pattern of RR bankruptcies extends back to the dawn of railroading. As a parallel to your comments, one of the core problems with RRs was overcapacity with the introduction of the interstate highway system and, to a lesser extent, air travel. I don't think the cruise lines face that type of challenge. People with disposable income will want to cruise. If they cut back on new ship capacity, it's likely that demand will drive up prices (and perhaps profits). It's just classic supply and demand, and we've been in a drought of demand, first caused by government restrictions and extending into nervousness about Covid. We seem to be roaring out of that now so, unlike the doomsdayers, I see the cruise lines ultimately recovering and prospering.