It's an outstanding set of T&Cs, and the only scheme in the UK that selects solely on ability not ability to pay. That alone tells you of the dire situation of the UK airline pilot market.
Furthermore, you are joining BA - complete with seniority from the outset. You're not trying to get in during one of the limited DEP windows.
Those that get in will know all of this, and many excellent candidates will not get in due to the limited numbers.
Equally, go in with your eyes open. Flying today is a very different game to even 20 years ago and I fear that those A* students will not find it a suitable long term career.