CASA were supposed to bring this in 7 years ago.
Anyways it's not good for pilots as you will be locked up by your employer. If it's going to be the same as before then you will have to do a flight test in a multi crew aircraft >5700kg. I would presume you could pay your own way but sim's are not cheap and you will have to be endorsed on type to do the test.
So as a result you will have to wait for your command on a >5700kg multi crew aircraft before you ever get an ATPL unless you want to pay up.
It is going to also limit movement overseas as most guys will not have an ICAO ATPL. Just another way CASA are screwing guys careers and ultimately working with the airlines.
CASA will now allow Jet RPT cadets who are locked into their airline because they have no experience.
And for guys who actually have the experience they will be locked into their airline as they won't be able to get an Australian ATPL and unable to move on or overseas unless they want to pay more money or wait for their command to come around.
as this is what they have done in the FAA system for a very very long time.
No in America the ATPL flight test is essentially a instrument renewal in a Bugsmasher with a FAA guy. The Australian one will have to be in a multicrew aeroplane and you will also have to be endorsed on type. Hence my comments above about it restricting Australian pilot career opportunities.
If it was just a renewal that would be fine, but I don't think that is what's proposed.