The odd's can favour you - maybe moreso in the current climate than in previous years due to the falling numbers. The falling numbers could be working for QF or against them. If they only require small intake then that's what they're getting. Hundreds of applications and they can pick the cream of the bunch.
However if the levels are falling low(er) *read not enough* than what current recruitment requires now or may in 2 to 3 years , should QF look to maybe relax some of the entry criteria required?. I am 100% sure there are people who are perfect candidates for the scheme but can not furfill the min req's for a cadet application.
However having said that , why would you want to increase the amount of cadets and find 2 years worth of industry exp. when you can hire a D/E person and have them on a course. I do not know the in's of outs of QF recruitment but its interesting trying to figure small parts out!.