IMO the above attitude is problematic in our industry. At it's best, training replicates, not replaces, experience. About 10,000 guys, myself included, can do a v1 cut or engine failure in the sim while carrying on a conversation about the waitress at hooters, with our heart rates significantly lower than when looking at said waitress. I've had one engine failure, on approach, in a turbine powered airplane. That experience was worth more than 100 trips to the sim. The problem with training (especially simulator based training), is that there are no real consequences for bad decisions or improper technique/procedure. I'd rather have a fresh ATP in my right seat than a 500 hour "exemption" because the ATP has 1000 hours of accepting and dealing with the very real consequences of his actions. IMO you cant train that into a person.

Lastly, an exemption is merely removing barrier to entry in this profession. Typically the higher the barrier to entry, the better the compensation and quality of life. There are thousands of furloughed guys with thousands of hours, and thousands of Regional, ACMI, Fractional and 135 Captains out there waiting to fill the void that will be created by age 65 and rest rules. As a special "exemption," it's very likely that if your not on the very front edge of the hiring "wave" being predicted, then your best case scenario might just be a quick upgrade in a Dash-8 or RJ. Then you can spend the rest of your days sitting on your "stepping stone" complaining about the little paycheck you got by spending a lot of money instead of putting in a little more effort.

Kudos to those who realize hard work and dedication to your professional responsibility will make you a better pilot, not some overpriced college.

Disclaimers:
I'm a riddle grad
My comments on training apply to a much lesser degree to the fine members of our armed forces.