As is the privelege granted to a surgeon.
But the point I was attempting to make is, one doesn't need to have this reaffirmed every time that surgeon wishes to operate on a patient. He is free to exercise that right because he has already demonstrated his competency and decision making abilities. His ongoing sabbaticals "expand" his "ongoing" practicing skills, but they don't force him to go back to medical school and learn basic sterilising skills.
In an industry cursed by it's own apathy, I can't see any benefits that will come from this concept, except the prior mentioned pay rise for some.
be fully aware that that may be taken away from you by CASA if they deem you unfit to hold the licence
If some within CASA get a personal set on you, they can, and do, "deem" you unfit. I can quote dozens of pilots who have suffered under this opressive system. They are guilty until they can prove their innocence. Strict liability removes the burden of proof from CASA.
More prescriptive regulation means more costs, which leads to less pilots.
I've had just as many take off's as landings, so I'm only an average pilot. But I do my best to be safe.