They'll get a subsidised course and qualification, no job and will end up flipping burgers
Extraordinary attitudes on display here.
An apprenticeship is an apprenticeship because the apprentice is apprenticed to an airline, geddit? It is highly unlikely that an airline will go to the trouble and expense of offering an apprenticeship scheme if they're only training them for multi-crew burger flipping ops. Therefore it will become one of the most secure ways of gaining an airline job.
Second, the biggest barrier to entry to the industry isn't one of ability, it's one of ability to pay. Any scheme that will make student loans available to student pilots, and also likely include the removal the VAT from the training fee, is to be congratulated, not scoffed at, in my opinion.