This same argument was made about sports complexes and the Internet as a whole. Enshittification is a real thing, and this is exactly the sort of move that drives it.
Sure they’ll still provide service, but you’ll be data mined, forced to watch and respond to ads, services will be gutted, security will be even more theatre than it already is — because there’s no alternative. This is a monopoly stake.
HOWEVER, for the select few, there will be private airport services for those who can pay. These services will avoid this race to the bottom until the larger service collapses under borrowing against future growth for current profits.
Why am I so sure of all this?
Because that’s how this playbook has ALWAYS played out. Every. Single. Time. And somewhere in there, regulatory capture rears its head as well.