A pilot with one of these could legally hold direct entry command on an A380 flying anywhere in the world, in the worst possible weather. Not very likely, but that is what the licence permits.
However he would also have to pass the type rating test and also have been given a command by someone with an AOC. How many checks does one need to do before they are deemed competent?
You could also argue that someone could pass an ATPL on a Metro then hold a command on a A380 and fly anywhere in the world.
What relevance would a ATPL test on a Metro have to commanding a A380?
The reality is that passing an ATPL flight test really has no bearing on anything as you are going to also have to pass a type rating and a command check by a AOC holder.
So in the end other that make it harder to be pilot and generate more money for CASA what does it all prove?