Well Desert Budgie, you are right and I mostly agree with what you said, I just wanted to point out that the position of TR+500 is there in enough quantity to make you think.
Now you are not completely fair either, because the problem with the language, the total time, the fATPL, etc, is the same with or without the TR+500. A new pilot with 200TT, out of 500 companies in europe will be only eligible for 20 or 30, now if you get in your CV a TR+500, you might open your chances to 50, which still sucks, but at least you have more chances.
Moreover, you are forgetting that with 750TT (500jet), of course you won't find a job for the TR you have, but now you are eligible also for the F/O openings in small jets and turboprop, which if I recall properly, you can see dozens of offers for 300TT in jet, 100TT in medium or heavy a/c, 100TT in commercial operations, etc. So if I follow with the previous example, now you increase your chances to 100, which is far better than the 20-30.
But as I said earlier, I agree with you and the idea of not getting in a big debt, because you won't open your options enough to be worth 50K
I just got my license on december, and I don't consider yet the P2F option, not because I don't have the money (which I don't), it's just because I want to try the old way of sending CV's and knocking on doors. But I've been thinking lately that the expenses of keeping myself current for the next 4-5 years, will add roughly almost enough to pay a line training right now (a cheap one, maybe not the 320 or 737).
The question here is: Is it worth it also to play the lottery of finding a job the old way, while you have to pay to keep your licenses current, and if you fail in finding a job for 4-5 years, have spent just a bit less the amount of money for a P2F scheme, but this time, you are 5 years older, without TR and 300-500 hours jet?