Something to remember is that the term "pilot shortage" doesn't literally mean "shortage" as in the resume pile is empty and we're parking planes because no matter how hard we try we can't find pilots...
The term "pilot shortage" is used generally when the airlines are in a hiring cycle.
If you want to use words that reflect reality, you'd be better of using the term "airline hiring cycle" than the more dramatic term "pilot shortage".
There will likely be another hiring cycle in the future unless something dramatic happens, but it may be several years off. The cycle seems to go in a 10 year period: 2 years of strong hiring... 5 years of trickle hiring... 3 years of no hiring or layoffs.
Wannabees really need to finish in a hiring cycle; that's very important.