At Airmed, we did not only learn how to work as a
crew, but we also learned how to handle a jet (raw data flying, steep turns,thrust/attitude, speed/attitude), how to manage/program the FMS, Autopilot,EFIS, and handle it's malfunctions (MCDU failure at take-off,...). Fly by wire problems, protections were covered.
We did engine failures before and after V1, Fires before and after V1, Decompressions at cruising altitudes,Flight director/autopilot runaway's combinations of pilot incapacitation and Engine failure after rotation at Pamplona (notoriously difficult N-1 procedure!), LOFT exercises, low visibility procedures, icing, contaminated RWY, crosswind, visual patterns. 40h of bloody hard work, never studied so much but the most fun of all my training! (thanks to the sublime Iberia instructors teaching the Airmed MCC!)
I am sure that Aeromadrid offers a similar programme. In short, we got a JOC with all the trimmings. I doubt that any pilot can disagree that these things will greatly improve one's chances in securing a job and/or succeeding the type-rating.
Yes, MCC can be a waste of time and money if you don't do it properly. Just as with everything in aviation. MCC is the most important phase, it is the transition between a piston flier and an Airline pilot. These are the words of my MCC instructor, who is the Chief Instructor/examiner A340, B757 at Iberia, spending his whole career in training. (thank you, Capt. J. Fons!)