Frank_Sinatra_ said:
Wow why doesn't he just buy a new one?
Im glad you think theft and corporate abuse is perfectly fine. So if I walk into your house and unplug your computer and take it, don't bother calling the police, because by your own logic you should just go buy a new one.
I think that $1,000,000 is a great max number to set because then hes garunteed an amount that actually means something from the inevitable settlement. So a reasonable $20,000 settlement (Or free air travel for life) seems fair to me. Afterall if you steal as a private citizen and get caught, you not only give the items back but are then sentenced to some form of imprisonment (usually). Its only right that the airline should have to suffer some form of consquence for their lack of responsibility and especially for their lack of caring in the matter.
Also it is amazing the freedoms that airlines have in taking personal property under the guise of "confiscating potentially hazardous items". Lookup the amount and types of items they can take and never return. It's mind boggling.