Plus, on average on the whole cabin, budget airlines are that much cheaper than others. There is a floor of what an average ticket can cost, defined by operating cost of an aircraft. And not even Ryan Air can ignore those without loosing money.
Sure. And Ryanair does everything to lower down that cost: they operate only one type of aircraft and they do maintenance themselves instead of contracting it out.
Inferior only by single criteria. If you take multiple, not by a long shot. Ryanair, if I remember correctly, has very good delayed and cancelled flight stats, better than most classic airlines.