Let's not forget why MFTS was dreamt up in the first place. MFTS as a concept was meant to remove the sometimes ridiculous holds between different phases of training. It was also meant to drag training and the delivery of, into the 21st century - using modern media and technology to support training in modern 'glass' cockpits and workstations. It was also meant to remove certain aspects of courses being taught more than once, due to courses being delivered in different locations, by different agencies.
In other words, modernise and make more efficient.
Will it work? Dunno - I guess we'll see! Will it be cheaper? Probably not! Does that matter if it's better? Probably not.