IMHO I think you should
plan a path via a traditional approach, i.e. getting the relevant tickets, getting a job, etc.
By all means apply for the cadetship and IF successful (sorry for the negativity but it seems too many people asking about whether they should apply for cadetships seem to think acceptance into said cadetship is a foregone conclusion) then bypass this plan and work out your finances accordingly
.
If unsuccessful then adopt original plan. I'd probably then work towards the Qantaslink traineeship requirements and have a crack at that. If unsuccessful then an instructor rating would be sensible, look for some casual/weekend work to keep your main job and keep hours ticking over, with the aim to eventually get to G2 + multi-training approval. At which time you would probably be suitably experienced for DE on better Ts & Cs