It may be the way to go and in theory it has merit and in practice as Flybe seem to implementing it looks good.
Experience suggests caution though. If we could go back a decade in flying training then I think that would be a better quality of product delivered in a more fair fashion to Wannabes. MCC and SSTR's would not be part of their budget domain for one thing and SPIC hours of 'training' still wouldn't exist and all sorts of other post JAA wonders.