I don't think any of us doubt that the terms and conditions on offer at Monarch are enviable for new starters, nor that the company is one of the few remaining who apparently value treating their new pilot's properly.
The problem is they take a tiny fraction of the overall number graduating from the big three integrated FTO's. Can anyone tell us how many cadets Monarch have recruited directly out of one of these schools in the last 3, 6, 12 months? Can they also tell us how many have graduated in total within those same time frames? If you're going to plan your aviation career based on the slim possibility of getting in to Monarch you might as well pencil in "A380 Training Captain after ten years" as well, for those are the odds you rely on.
Much more responsible would be to point out that the vast majority of cadets who graduate from an integrated flying school will end up working for one of the major low cost airlines initially, ie easyJet or Ryanair. It is those terms and conditions that people should be focused on and planning for and not the lottery win of Monarch.