I'd say that's about right; small city, but important airport because it's well located. Sitting atop the junction of I-90 and I-81, people from all sorts of smaller cities--probably with even worse fares than SYR--can drive there easily. Watertown, Bingahmton, Utica etc. Population of Onandaga county is about 500k; figure another 150,000 in surrounding counties so much smaller than Rochester's 1 million 5-county population.
That's why--as I groused yesterday--UPS flies there and to BUF, and ignores ROC. Despite ROC's higher cargo volume than either BUF or SYR. Can't figure that one out.
Syracuse really got screwed by US Air after they bought Piedmont in 1987. That was the second time a quality regional-jet sized competitor had arisen from Utica, set up hub at Hancock, and prospered (first time Mohawk, second time Empire, bought by Piedmont but still competitor to US). Rochester of course got screwed too becase EM/PI and US used to compete on the BOS and LGA/ EWR routes.
Need a new airline paint scheme? Better call Saul! (Bass that is)