onedaysoon has a good point,
i think that the impending "pilot shortage" will be for experienced drivers. Meaning chaps (and gals) who prob have over a coupla thousand hrs.
as Krusty mentioned, there are always going to be people lured into learing to fly - but just because there is an excess of bare CPL's playing flight sim at home - doesnt mean that a proper pilot shortage will not happen.
I dont think that it will be as 'pronounced' as the last shortage because last time there were many factors all contributing at the same time.
This time round airlines (so they claim) are aware of the possibility of a lack of experienced drivers, and are taking measures (so they claim) to tackle this impending issue.
But they'll screw it up anyway - and at least for the short term those of us with experience can pick and choose where we would like to go.