One of my friends works as a LTC for Ryanair and he tells me that the cadets he trained have had the same scheme as this and they all got hired afterwards.
Clearly the line training takes much longer due to COVID but they are flying and as soon as there are more flights they will be scheduled more. But they still receive salary its not that they are done after the training.
Like Banana Joe said, this deal will not be for everybody. If you have the finance’s and you are willing to take a risk, go for it.