I think the reason why REX have put their requirements back up is not to get local pilots applying, because they wont. They will say to the government there is a pilot shortage, (which there well could be in the next few years), but they will say there is one now and there are no qualified experienced pilots and get work visa's for overseas crew to move here. Nothing will be said about the appaulling T&C's to the government, they will agree and let REX employ OS crews without having to improve their pay.
Only a theory, could be wrong, not the first time!