We do it in the FAR 91 world. Just about all biz jet pilots have full PIC types, we switch seats and log time that way. BUT, not many hire guys without lots of PIC in the first place.

We did it that way in the AF, too. From the start of your first squadron, you were developed into aircraft commanders and had to be ready to upgrade. Three years to A/C, preferably IP. Every flight was an instructional ride, you had squares to fill, experiences to document, tests to take. No sitting around, jerking the gear.

GF