Pilot shortage or no pilot shortage, it will have no effect on our terms and conditions in Australia unless we remove our dependence on seniority. The pros are of course horizontal movement of pilots between airlines. And the cons are of course well known.
Only the departure of pilots in large numbers will make a difference, and this will never happen so long as a return means starting again at the bottom.
If we make no changes to the way we operate, Asia Pac could need 2 million pilots in the next 3 years, threads like this would continue to appear, and yet it would make no difference to us here in Oz.