JAA and ICAO give the MINIMUS that operators can apply. As with your drivers licence you may be legaly entlitled to drive a Bugatti Veyron at 17 but good luck finding a company to insure you. No airline insurance will allow a 1500 hour captain on a large passenger jet and for a good reason.
When you have 40 hours and pass your PPL you think you start to know what flying is about but when you have 100 hours you realize that you knew nothing however now you begin to know what flying is about. This process is repeated at 500, 1000, 2000, etc, etc etc If you have not realized this yet then you are even further behind than you think.