I am not so sure, if they are going to remain on the winning side in the long run. When I think of Ryanair, Gordon Bethune and his famous metaphoric pizza comes to mind. You can take only so many toppiongs off, until noone wants to eat it anymore. And Ryanair delivers nothing but the abre crust. Their new B737-800 come indeed with non-reclining seats, no sun-shades, no bulk-heads, and the safety instructions glued on the backrest of the seat in fron of you. When you call customer service for whatever reason, incl. making a reservation, you pay approx. 60-70 cents/min, no matter how long they put you on hold. On board you have to pay for any drink, incl. water, and bringing your own supplies is frowned upon. They offer only point-to-point flights, strictly no connections, because they do not want to be held liable for missed connections. If you'd bother to try nonetheless, you'd have to claim your bags at the connecting hub, leave security and repeat the entire check-in procedure from scratch for the connecting flight. They often compare themselves to Southwest, which IMHO is kind of offensive - Southwest comes across as a full-service carrier compared to Ryanair.
Their CEO, Micheal O'Leary, gathered a lot of attention in the European press with provocative statements, belittling the competition, bragging about his own successes, and so on. Initially it was seen as funny, but now he is mostly perceived as arrogant. I agree with Whadayano that he is increasingly becoming a burden for the company.