[WkndTriathlete]

Let me correct that for you: 200+ people who decided that United hadn't offered enough incentives/financial compensation to be bumped.

If United ran an escalating auction system - like Delta does on overbooked flights - they would eventually have found someone to volunteer to take the incentive and that person would have voluntarily disembarked. Because they were apparently too cheap to do this, their share price is getting pounded into the ground today.

Whether that gets United's sociopathic CEO to change policy or not remains to be seen. If it doesn't, I'm inclined to agree with the OP: the consumer protection laws, at least for commercial flights, need to be updated so this doesn't happen again.