The same as happened in the 1960's...70's...80's...90's...the naughties and the current decade!
There is nothing new about "approved" cadet pilots flying for airlines, it is simply now more evolved and much more common. Fifty years ago, pilots with this experience were flying for BEA/BOAC and other airlines.
Fifteen years ago... Twenty years ago... Thirty years ago... "non approved" candidates required at least 700 hours for a CPL/IR and were very unlikely to find an opportunity of airline employment with the jet operators until they had at least Three to Four times this level of experience.
In many cases, not a great deal has changed in that respect. JAA (later EASA) reduced the CPL hour requirements (in the UK) by two thirds to bring the levels of experience down to those required for what amounted to a basic "aerial work" licence. In so doing, it aligned those requirements to much the same as existed in the USA and other ICAO member states. The result was a flood of such low hour pilots who in many cases believed that possessing a CPL/IR by any means was their passport to the stars.
Those airlines that historically (and it is a long history,) took on low hour cadets did so through selective and managed routes. There successors in title and a whole raft of newcomers, utilized the updated version of exactly the same thing. This not only squeezed out a large portion of the "self improver" aspirants, but the new lower "non approved" CPL requirements meant there were exponentially hoards more licence holders fighting for a toe-hold on the narrowed cliff.