China has proven you can just mass produce pilots at reasonable standard, and they do it at incredible rates like 10,000 per year. All that while still paying them relatively poorly, although well for China. Yes they will employ a few expats over time for exorbitant rates to fill gaps, but that's definitely the minority.
Except that those 10 000 have the entire cost of training paid for by the airline. Meanwhile in Australia pilots have to go and find $100K+ personally to become a pilot. To then fight your way through GA or be locked into a cadetship with no real hope of anything meaningful.
Personally this is what will ultimately drive up pilot salaries. The cost of training now is ridiculous for the salary on offer and even if you get into a jet airline eventually the pay is hardly worth it given what it cost you to get there and the risk you are taking. You will also have to compete with foreigners who will be brought into the country to suppress salaries.