Pro`s; the education takes longer, the education includes a degree from a university, the education is free
Con`s; you have to get through the hoops if you want in.
If I were in your shoes I would definitely send them an application, and attend the screening/interview if invited. I`m sure that any pilot doing training at the moment will tell you that you will start off your career by getting yourself into a very large debt. And, if you do succeed with their testing and such, and find out that this is not for you after all, then you can always decline the offer.
