Interested,. .I note you are a recreational pilot. So, why are you worrying about an opportunity for 5 wannabe's chance at a jet job? I am sure the interview process will weed out the not-so-keen. This is an opportunity for 5 pilots that may not get that opportunity for quite some time for minimal outlay. Astraeus and PPRuNe do not have to do a thing for the wannabes. They choose to help.
I have been through a sim endorsement programme and if you do not have a current IR AND have the instrument scan up to speed, you will struggle with the tasks. Sims aren't cheap and no one likes to fail. So, I think it is a fair and reasonable requirement.