It could help to establish some facts. This smartlynx/BAA offer is not pay2fly. That is where you pay for your line training and then a block of hours, 500 or whatever with no pay and then you are done. That isn't what this programme is. You pay for your type rating and then roll into employment with smartlynx - much the same across the rest of Europe. Yes they aren't offering jobs to recent or present graduates - who is right now?? Whether or not you go for it is entirely up to you and how you see aviation panning out over the next 2 years but be sure you actually understand what it is you are accepting/rejecting first.
@ollie sounds like your friend didn't do this BAA/SLX programme, rather he simply did his A320 type rating with them. For that they make it clear that employment is offered only when a need arises. He just got unlucky with C19 being about. Again though, who hasn't?