I think this discussion has two perspectives. One perspective is from the Australian pilot market viewpoint and the other is from the Global viewpoint.
That there is a shortage of experienced heavy metal pilots globally, I think is beyond dispute. Boeing is saying it, Airbus is saying it, Middle Eastern Airlines are saying it and Industry associations are saying it.
Will that shortage impact on Australia? Probably not because the average Australian pilot is reluctant to travel within Australia, let alone overseas, and will generally accept inferior conditions to work in Australia.
So for those willing to forgo a future in Australia, there is probably going to be a significant amount of choice, but that choice will potentially come with the price of being a global nomad for the rest of your career.
The supply/demand equation is probably always going to be a bit skewed against us in Australia because we produce a relative high number of pilots for relatively few positions. It is a different story in the Middle East, Asia and the Far East. That is where the shortage is/will be, and that is probably where the money will be.
Having said that, I am supremely confident that the "responsible" regulators will change the rules, lower experience levels and generally turn a blind eye to safety in the pursuit of economic growth. So for me the question is not "is there a shortage?", but rather "will the shortage lead to better conditions for anyone?"