If you're a "starting out" pilot then I see it as a good thing.
So what if you spend a few years at FTA, at least if nothing else comes up in the meantime you have an instructor job that pays well, probably the best paying one in Oz. If you get the nod from QF or
VB after 2 years, take that job. People have spent far more time than 3.5 years in the bush doing crappy jobs waiting for that illusive airline job.
I know that if when I worked at FTA they had this scheme, I would have done it for sure.