I agree with Kenny. Anyone can be taught to rote learn procedures and sure, people all around the world are being put into the right seat of A320s and 737s with no experience. This doesn't mean they're capable beyond the normal operating procedures of the FCOM.
I'm not saying they can't do the job in a general basis - but I hear line captain after training captain after line captain complain about how the lack of experience in the guys coming through now (including cadets and low time guys) are just making their job harder and harder by the week. Training captains who have become instructors for flying IFR, making radio calls, having to teach crosswind landings in some cases! You can come up with any reasoning you want, but they're the facts straight from the captains these people will be flying with. The aircraft is designed to be operated with 2 pilots...in essence, the captain is not there to "guide and show them down the right path".
Having said that, I think if companies are willing to implement traineeships like these then people would be crazy not to take it. It's definitely a golden opportunity and one that won't last forever.