So the thing about overbooking (in airlines, but also in other industries like hotels) is this: it makes perfect sense under capitalist logic, where maximizing profits is the primary driving goal.

The issue is not that they don't offer compensation; by US law, involuntary ticket cancellations must be compensated with at least 400% ticket value, up to a cap of $1350. What they really want are voluntary bumps from flights (tbc)