@ aero fan: That is an interesting line of thought!. I mean yes being a cadet will definitely not allow one to 'explore' other pilot openings, but this is true only when the market is/was booming and multiple jobs were on offer.
Now when we have 1000 CPL holders running for 20 jobs, then it surely makes sense to be secure with a cadetship, because we know that we surely have a job in hand when we finish our training.
Regarding limited exposure of training, all these are finally up to the person. If you do want to learn your fundamentals right, you need to beg/borrow/pester/steal more time/hours from your instructor and school.
And finally think about this. Which would you prefer?
1) Being 20-30 lakh (Rs 20,00,000-30,00,000) in debt 'without' a job in hand
2) Being 40 lakh (taking an extreme upper limit) in debt , bonded as a cadet with any airline 'with' a secure job