So unless you absolutely have to be there the day of your flight, it is even a pretty good deal to stay.
Then they cheated you.
The cash compensation in Europe if they bump you is 250 - 600 EUR per flight and person, depending on distance. That even applies for significant delays.
To be fair, it can be a hassle to get it. But sometimes, if the airline is clearly at fault not.
And for the record: Every airline overbooks. But usually they find enough volounteers to make it work.
Pretty insane that this can happen in the first place, but I guess with something like Ryanair I can see how people might want to play it safe then!
The 'rules' state that they're supposed to ask for volunteers, but in this instance, they didn't. I was just withheld from boarding until they confirmed they had a seat for me.
(How it happens can vary: your PNR might not have a seat assigned, or the seat might have been double booked. Either way, at check-in they’ll typically notify you and let you through regardless, since you have a perfectly valid ticket.)
I still had a valid boarding pass. Nothing went wrong at the airport, besides Ryanair failing to follow correct overbooking procedure. Fortunately in that instance, had they refused boarding on me, I would have suffered zero inconvenience, and have received 350 euros compensation and a flight the next day. In a way, I wish they had refused me that day.