Some excellent points here..
This old-stager has just retired after 3+ years in selection and recruitment for a large Middle-Eatern airline..
Here's my tuppence worth..
1 Any debate about the relevance of the ATPL syllabus is totally pointless here.. Candidates need to pass the exams to get the licence and they need the licence to get the job..period.
2 Most of the airlines with which I have been acquainted (European, Middle-Eastern, US and Asian) showed little interest in first-time passes..either for writtens or flight-tests.. BUT almost all have required candidates to demonstrate at the interview stage that they have a clear understanding of relevant ATPL subject matter.
3 I can record here, with immense sadness and frustration, that those candidates who achieved their passes through heavy reliance on question-banks can be identified within a few minutes of the interview starting... Sure, they learned the answers but often without any real understanding of the subject matter.
4 Use of question-banks to improve chances of passing is just fine but ONLY to support a very clear understanding of the subject matter. Without that understanding and knowledge, candidates put themselves at a huge disadvantage. IMHO of course.
Good luck to them all..it's very competitive out there and likely to remain so for many years yet.