Could not agree more with you Keg, that is the crux of the issue in my opinion.
Also one fact that people overlook in regards to Flying Experience prior to entering an Airline is exposure to the real world in a smaller dose. I'm from the current "Younger Generation" and I know that a lot of us approach Simulators a lot differently to our older comrades, it's more of a game to us, it's not life or death necessarily, it's something to pass which means that when push comes to shove and you're sitting in an Aircraft, whilst you have done the training, passed and even have some experience, how do you really know how you'll react when all of a sudden it hits you that this is for real now?
How will that Cadet react when the proverbial really hits the fan and they've got sensations they've never felt before, the fight or flight instinct kicks in, the sound, the way your body feels, it can all be extremely different, there's only so much a Simulator can really Simulate. It's at that point either the Cadet is suitably ready and assists the Captain in getting the bird back on the ground or perhaps, they're not... Not the best place to be finding that out I'd dare say.