This is hardly a unique offer, unfortunately it is the way the industry has gone and continues to go.
Other companies that I can think of offering the same (or similar) deal:
Pelair
Transair
Skippers
Oconnors
lets not forget the QF cadet scheme
as mentioned above have (read pay) for endos to get interview or job with
VB or J*, and most other airlines worldwide.
Not that I agree with it, but its commonplace and here to stay.
So I guess that narrows your Oz options down to QF DE, Sunnies, Eastern, Air North, RFDS or Rex if you want to fly a jet or turbine and not pay anything. But I have a sneaking suspicion that you would go and pay for an endo if
VB gave you a call...