Today my advice to a wannabee would be do what you want, but be prepared to live with the consequences. I'm sick to death of telling people to 'hold off' or informing people of the shady schemes that the airlines are using today. I believe a particular moderator of this forum had the same problem and lost interest
The industry, in Europe anyway, is so far down on it's arse at the moment that it faces a monumental struggle to recover. A few more pay to fly or work for nothing pilots adding their shiny new CPLs or MPLs into the melting pot will make no odds. As already suggested, you can buy hours on widebodies now or even pay for a command if you have the dosh. People are still queuing round the corner for Ryanair and Easyjet, despite the fact that neither are expanding and the terms have been further reduced. People thought it was a fantastic idea to become a pilot during a global financial melt down, when airlines, training organisations and flying clubs were and still are falling by the wayside on a regular basis.
So do as you please; it doesn't matter anymore apparently. Unfortunately it seems it will take an accident where a low experienced crew causes fatalities before anything changes. You remember Colgan, right? Offering your services for zero remuneration isn't anything new anyway. There was a
head at my flight school back in 2005 who took out an add in the back of Flight saying he'd work anywhere in the world for nothing. That's back when people were getting jobs!! I understand he went on to purchase a Citation rating and then one for the Airbus with hours on type. I was happy to hear that he still hasn't secured employment. Maybe there is still a little justice left in the world?