Well, if you are a new pilot just out of school, this is definitly a very good oppurtunity to get MCC, an Airbus rating and a relatively safe and well-paid job. So why not?
Regarding future upgrades: You have to be in the company for 42 months and have 3000 hours in the company to be upgraded to captain, so expect that as minimum. The German pilots, who are going to be trained as captains initially will have a minimum stay of three years.
Why do I think that they will be paying less? That is the whole point of having "Italian" pilots! Otherwise they could have offered pilots from LH mainline to be based in MXP, having all the experience and know-how already. The pay for a new captain will be less than for an SFO on the long-haul fleet that is flying there for some years...