Trossie,
I agree it is a strange term, what we have to remember is that there were large numbers of service pilots (not so many now sadly) leaving HM employment after many years flying who hold only the basic EASA licenses.
When I left I had nearly 4000 hours flying rotary but didn’t fancy the idea of flogging around the North Sea so obtained a CPL (IR), this alone would not have allowed me to apply to BA as either a cadet or a DEP, the “managed path” allows those in a similar position to apply to BA and for BA to tap into the military market. The only people leaving the military who could apply as DEPs are the multi engine drivers, so fast jet or rotary guys could potentially struggle especially as they tend to be in their mid to late 30’s
As it was I went elsewhere for personal reasons and joined BA as a DEP a few years back.