£60,000? My debt is considerably lower than that, even with an FI rating and a fair amount of extra flying.
There might be an excess of pilots. However there are a lot of jobs out there, and most of the people I know who have the right qualities to get work (dedication, good attitude to flying, personality etc.) are getting jobs, and being interviewed for jobs.
In some areas pilot supply is a problem - for example there is now a distinct lack of instructors, and the light charter industry struggles to keep pilots qualified for single-pilot IFR and there is a lack of multi-crew captains. In some restricted scheme where would their replacements come from? While there are too many people who want to help drive a jet, there is a lack of people with the same qualifications plus additional skills who want to actually fly aeroplanes!
I would also deny that all FTOs exist purely in business terms. They do need to make money, but like many areas of industry there is variety in attitude to the balance between making money and serving customers. This affects the atmosphere in a company, and if you get to know the industry well you will find that the companies that put lower priority on pure profit have a much friendlier feel, and the instructors get a good relationship with students, are genuinely pleased for the students when they pass exams and flight tests, and when they get a job.
There is often a strongly ethical attitude out there in the industry, you are probably looking at the wrong companies!