Thing to focus on is that there are way, way more flying jobs around now than would have ever been the case had we continued with the Two Airline Policy. Few could see then the amazing growth that low fares and innovation would bring.
There are now so many more career paths than existed then and so many more entry level positions. And if some of those aren't quite A-level pay and conditions so what?
Almost all any "wannabee" pilots wants is an opportunity and more jobs fits that bill. Be they Jetstar or
VB or anyone else....the first airline job, that first jet rating and the first 500 hours are the key to the future.