Eat My Shorts and Tinfoil Hat
First, my comment about factory workers related to legal requirements. As far as the law is concerned we are no different.
But i think the main issue is people, including a lot on here, misundestanding the contract. You are not doing anything in your "off" days. The contract is to fly the 17 day rotations and to attend sim training and the week in Malta. The rest of the time beyond that is your "off" time. Since it is more than is legally required, it is perfectly reasonable of them to offer it. If that and the salary are acceptable to your goals and lifestyle, then go ahead and sign it - i wouldn't. But to start foaming about it being "disgusting treatment" is delusional.
If enough people don't sign then they will be forced to improve it by market forces, but i'm not holding my breath on that.