Indeed G Orwell, If you actually had acquired some significant experience after the 6 years I think some would accept it and tighten their belts for a couple of years before leaving and Cathay would probably have to reconsider their conditions in order to keep their pilots from doing so. Their P2X thing is the perfect way for them to prevent this.
The eternity you have to spend in the Jump Seat almost singlehandedly makes the current deal a very bad one. Then come the facts that you would help in reducing T&Cs for everyone already there and live in a shoebox eating instant noodles every day and breathing proper oxygen only during layovers.