after all, 85K outlay for something like 40K pa return (at least for the first several years) plus crappy basing / rosters, etc is not really a good investment considering the options available...
What has changed?
When I started it was $30-$50k and your first few years were around $10-$20k income in GA, very little progression to anything airline or twin charter for that matter. And as far as basings are you saying that being able to stay in a city (on poor wages) vs having to move outback to fly a 210 etc for 3 years sweeping and cleaning (still on poor wages) is a step backwards. I think the rich kids may be more inclined towards todays offer than the past career path.
I agree totally with the Air Force vs Civil argument at present. Some Asian airlines run their cadet programs much the same with a strict progress requirement, but these airlines pay for the training.
Not long ago I met a check and training captain on a 737 who rose to the position after 10years starting as a cadet with 250 hours.