Once again most people who are looking down on this scheme are people who have employment as a commercial airline pilot.
I for one would not go anywhere near this scheme and I'm only a lowly wannabe like yourself.
I have to say that I agree with Syntax, if you've got the ridiculous sum of money they insist on charging down the back of your sofa and you won't miss it then go for it. It could actually be a good opportunity to use them to get on to the ladder and move on as you say (if you're lucky!) and if you can't you have only lost pocket change.
If however, you would have to take out an enormous loan or remortgage your folks home then you really need a mental health check up! Bearing in mind your wages would only just cover the loan repayments how do you expect to have any sort of life?
You say you could move on after 3 years...what if you can't for whatever reason? You don't make the cut for other airlines or there is another recession for example? Maybe you consider these things unlikely but you can never truly know for sure. You would be stuck at Wizz, possibly living in the arse end of nowhere, no life, a mortgage sized loan, no money for yourself and possibly the threat of losing your parents home as you can't keep up with the repayments. And don't forget you need to add the training time on to the top of that 3 years so could be at least 5 years of that sh*t!
Don't get me wrong, I want to be a pilot as much as anyone on here but this scheme just isn't a viable option. To answer your question I would actually rather be looking for a job for 3 years than to even consider this scheme. At least you could have some form of a life working another job while you job hunt.
Just take the advice you've been given from the guys that are flying as they are in a much better position to give advice and you really should use this to your advantage. After all there hasn't been one Wizz pilot on here defending the company and offering counter arguments to all the negatives that have been posted about it.