100% accurate assessment of current CX conditions.
One thing to consider however for zero time pilots - take the cadetship, get the CPL & Frozen ATPL, get the P2X and do some trips on CX, BUT find another job and tell CX to stick it.
Under HKG law an employee can't be bonded (regardless of what CX might try and tell you).
So, take the Aussi training and then find yourself a job working for a good airline.