Im a recent grad from one of these schools (not Riddle). While I can't say that these classes automatically makes you an airline pilot, I think they definitely give you a good building block to start on. Dispatch taught me 121 regs, runway analysis, long range/high altitude flight planning. Systems is self explanatory (they taught the ERJ, then the 737 later in Dispatch). Aerodynamics is also self explanatory (although knowing the lift/drag coefficients of an F-15 gets you nowhere in the airline world, knowing the mechanics and aerodynamics behind swept wings might). Airline Ops introduces you to crew environment, roles of the FO, Capt, PF, PNF, look at accidents and where the crews went wrong, and learn about profiles. Safety, also self explanatory, you just look at accidents and case files and learn about, well, Safety. ATC courses kind of teach you what goes on behind the scenes up in the tower. Meteorology, since its taught by a meteorologist, in my opinion gives you more knowledge about the weather than any CFI ever could. Then theres always the extra elective courses like the high altitude chamber (everyone experiences hypoxia differently so its always good to know your symptoms), aerobatics, CFI courses, and so on.

All of this is what you make out of it. Some people get stuff out of these courses, some people dont. Just because you're taught something doesn't mean you know how to apply it. Do I think these courses should allow lower mins for an ATP? Meh. I think people who go through these programs have a sort of edge at the beginning, because it definitely helped me through new hire and sim training. Sadly enough there's people who graduate from these courses and months later are thinking "why wont Southwest or FedEx hire me?" Obviously there's people here who completely disagree with everything I have just said.