You know, this whole discussion is just academic anyway.
What really matters is what do the non pilot bean counters think. Is the risk of placing inexperienced pilots in the cockpit low enough to justify the increased profits from the reduced salaries and longer hours low timers are willing to tolerate? In most cases they say yes and just cross their fingers.
Most bean counters don't consider the less obvious and less measurable benefits of experienced pilots that may translate to reduced training and operating expenses.
On the other hand, there are probably enough high timers out there with such a disgruntled bad attitude they may end up costing more anyway.