Whilst I agree that it is an injustice that modular pilots get such a rough deal. Integrated courses do provide the airline with something that you cannot offer. You mention your 700 hours which is a nice number and obviously you have decent experience now, problem is the airline has no idea how that experience came about. They don't have any information about how many lessons it took for you to go solo, they cant see which areas of training you struggled in (obviously you may indeed have the perfect record - but they are none the wiser).
On the otherhand, the airline can see all of this information about the integrated cadet. As an ex-integrated cadet, we were under immense pressure throughout training to pass each detail first time, if we failed just one lesson, there would be a review procedure which would examine how to proceed. This may be a simple rerun of the lesson, or perhaps a re-training package or at worst, removal from the program. All of this will go into your final report and will have an impact on what airlines think of you and whether they will indeed take you. 2 first time passes just simply isn't enough information.
Throughout the training, nothing concerns the cadets anything more than what may get written down in their final report. We are absolutely expected to do everything in the minimum hours. Imagine if modular cadets were told they must complete the PPL in 45 hours or else they would never get employed with an airline. The pressure would be enormous.
Sorry if that is a hard pill to swallow but it is the reason why the airlines favour the cadets over the modular students, they are a known quantity. Rather than the students abilities (as everyone has the piece of paper that says they can instrument fly a multi-engine aircraft to a professional standard), rather the information they can gain about them - the knowledge they have had training discipline drilled into them from the start through a culture of fear, of failure and 'review' - that allows them to make an easier decision.