Depends on the training, in my opinion. There are plenty of 'seasoned' pilots who are useless. Some of the most experienced and 'revered' guys have been by far the worst operators I've worked with. Some of the least experienced have been some of the finest. Let's face it, there's nobody with a sloppier attitude and work ethic than the average Aussie RQ.
Ryainair, for example - the ultimate pay to fly regime, is pretty much an EU- based Emirates training centre. Can't be to bad.
I have a mate who left RYR for BA, and said his RYR training and colleagues on the whole were at least as well trained, and in terms of hand-flying and recency, as really rather good.
I'm not condoning pay to fly, by the way. It's cancerous. However, quality of training is what counts.
There are thousands of pilots coming out of training whose timing is off by a few years. That's not their fault. At a different time, many of these would have been selected by the myriad of airlines hiring at the time. Unfortunately, that's gone for now, and sadly, one of the only options left (in the EU) is pay to play. I understand that after spanking US$150000 on your training - another US$60000 to ensure the previous $150k wasn't wasted probably seems like good logic.
Try not to be so embittered and cynical.