I happen to know about someone whom they decided was not good enough after 250H of line flying and was called to Dublin for tea and biscuits. First time passes in everything before FR, a couple not so good evaluations during the type, a few not so good evaluations during line training and got called to Dublin...for the first and last time. Anyway I only know this one guy who faced this scenario.
I also happen to know twenty or thirty other cases who started on day 1 and have been living happily ever since! And let's face it, for today's standards 29500€ is not that bad compared to your other comparable options when fresh out of flight school (close to none).
I believe it really depends on your effort after you pass the interview, a process in which no one seems to understand what their criteria is though.