Is it the belief that someone who's entire job is teaching at a research oriented university should be paid similarly to those with greater academic credentialing (PhD) and who balance both teaching and research? That seems to be the implication here. And I don't disagree that teaching is undervalued, but Pamela Fox seems to want the higher status without the 5-6 year academic journey and brutal selection process to get tenure track positions. And academia doesn't reward great performance like the private sector so doing a great job as a lecturer would never elevate her to that upper track.
It is sad to lose great teachers but a part of me finds it hard to sympathize. This reads like a very smart person not doing their homework on the way a system works though ample public resources are available to find out.