Life is full of experiences. We have to listen and learn from others, research as much as possible and then make a decision based on all the knowledge gained.
The pilot industry is continually changing and seems to follows some 7 - 10 year cycle of shortage/over supply. The T&Cs have deteriorated over the years but then again so have the T&Cs in all other business areas (except maybe for executive management positions!)
All I can suggest is go for your dream but be smart about it. Always have a contingency plan. Find out what you second great ambition or interest is in life and get a qualification for that. Worst case is you have an options when the rose uncolored glasses no longer work...
All the best for your career.