That's right, money is not everything. But my dear "numbers", that's exactly the point. The higher than normal pilot attrition is partly a result of the latest bean counter orientated "efficiency drive" having simply gone too far. Efficiency = much more work for not much money. i.e same money.
However once these kiddies realise they are also getting screwed and burnt-out, they will leave for greener pastures also, maybe sooner than you think, and so the experience drain will continue unabated.
I suspect they will be even less grateful for the job than the pilots they are replacing, having not been through the GA wringer.