I can't say I ever remember it being like that, and I have been around quite a long time. Five hundred hours on type has always been something of a minimum bench mark for a type rated pilot. However it is rarely as simple as that. Recruitment that I am familar with, tends to look carefully at how and where experience has been aquired in an applicants background. Some of this stuff you really wouldn't touch with a bargepole. Not only because it is dubious, but also because the world is awash with applicants with good quality backgrounds.
For cadets, we provide the training and the experience. For experienced applicants we expect to see resumes that include recognised quality companies, and verifiable experience. I am sure it is the same for most quality airlines.