This all started because Jeremy Hunt apparently can't read a research paper properly. The claim he made that care at weekends is directly a cause of understaffing is simply not supported, not even by the very research he was using to justify this. Nor is it clear, to me at least, how keeping pay levels at the weekends essentially the same as before (I think it's still not clear how weekend pay would be affected, or there are contradictory reports; neither side has covered itself in glory on this point) would solve the understaffing problem anyway, unless you are forcing more doctors to work these hours.
In that sense, the motivations of the junior doctors aren't wholly unreasonable and aren't wholly financial either. Another way to see that would be by comparing the competing pay proposals; the Government's and the BMA's structures are very different hour-by-hour, but it looks to me that they end up giving doctors the same level of pay -- for any doctor who cycled evenly through all working hours, at least (indeed, my back-of-envelope estimates suggest that the government's offer is overall *more* generous*, not less, although of course the actual effect depends on the working pattern so this isn't meant to be definitive).
The problem is that I'm not sure any of this really matters any more. At some point, I feel that it's better from a democratic viewpoint that the government's decisions are the ones that that should be implemented. I've tried to phrase that last sentence carefully, and probably failed, because it's hard to avoid some sense of "imposing its will with an iron fist" that's not at all what I mean. But the government has the weight of democracy behind it, and there's only so far you can go in protesting its decisions. If this strike hasn't crossed that line already, then any further action will have for sure. The government's decision is based on a shaky interpretation of contested research with a bizarre and probably ineffective implementation -- but it's still our government's decision. If this strike doesn't change it, I think it would then be time for the doctors to accept the new contract, and to make it work as best they can. If it turns out that their predictions were, after all, true (and I suspect they will be, to some extent), then we can look at the contract again.