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It's basic economics in its ugly application.
Usually, the people who are buying stuff come in different tiers: The people who want to pay the least at all cost, people who are careless enough to get fleeced out of a few dollars for the same crappy product if paying less is difficult, and people who are willing to pay a premium for really good stuff. There's an art to structuring your service to catch all of the tiers, and make sure that they're all going to pay the highest price they will accept, and I think "basic economy" is a new technological development in drawing a more effective distinction between tiers 1 and 2.
What makes it ugly is that they're designing deliberately punitive features into the service to push people up into tier 2 who would otherwise be going on Kayak and just clicking the "cheapest" button. If you have any willingness to pay $40 more, they want it. They're going to put you to the test a little bit, to make sure that you're committed to the lowest price, and then if so they're going to punish you a little for it, while still taking your money.
American and United are now both on the no-fly list for me, I think. I may have to see what airlines are decent, when you fly them one tier up.