LindyField is making a very valid point. Some of you may be missing it.
IMO, LAX is the perfect outfit for a hub for one of the majors. There aren't as many nonstops across the continent as some of you might think from LAX. Imagine having 2 or 3 banks a day where flights would all arrive at once on say airline X from PHL, BWI, ATL, MIA, MSY, MDW, IND, CLE, BNA, DFW, IAH, JFK, EWR, IAD, BOS and even STL, MCI, SLC and DEN, AND the passengers have the option of connecting to a massive west coast RJ operation to points like OAK, RNO, FAT, SBA, SJC and a handful of bigger jets continue on to SFO, SJC, LAS, SAN etc. etc. and another handful continue on to say Tokyo, Sydney, Osaka, HNL and Hong Kong. To me that business model makes sense and is identical to what CO has going at EWR. No airline, not even UAL has done this. UAL staggered its flights throughout the day from all over to LAX. There was never a one to three huge banks.
Some of you argue capacity concerns, while true, very workable. LAX is very disorganized. But there is the potential to operate extensively out of at least 2 terminals for one carrier as well as build an extension for heavies and for RJ operations out on the western end of the field.
WN seems to be focusing more on LAX w/ nonstops to BNA and HOU to name a few. I think the market is there for a major to come in and set up shop on a bigger scale.
Oh-also there are big pockets in the day where air and ground traffic at LAX is minimal, perfect times to squeeze a big time bank of flights. I know LAX has its busy moments, but not throughout the whole day.
I hope when things get better in the world, another airline, maybe CO? might explore this.