Organizations "warehouse" RN's when their wages drop. Right now RN's are being forced to take cuts, work on call or part time, and the RN mills (many bankrolled by hospitals and some HMO's in the late Nineties to present) are still working in overdrive.
The "RN mills" still must meet the minimum national standard for testing which is not with the wide range of "hours" like EMS. The mail order programs like Excelsior are also very much under scrutiny and banished from many states since they have only 2 weeks or less of clinicals.
Fortunately, like nursing, EMS (or at least the NREMT) is getting the message and eliminating the Intermediate.
I also saw where a couple areas in Canada are rewriting their LPN programs to increase the education content to compliment the skills.
Right now very few professions, medical and nonmedical, are immune from pay cuts. You can not just state it is an RN thing. In northern CA, a dollar/hr off their hourly wage is still going to leave them making a very decent take home check.