Oh no there are not!
That there are more pilots than seats, well, yes. but not a LOT more pilots than seats, as was the case when the legislation we are squabbling over came into force. Back then you had a rather small airline industry fed with a steady supply of very high-grade pilots coming out of the US military. Now we have an expanded industry scrambling to find high-grade pilots. Just look at some of the accidents nowadays, which show a real lack of experience.