It's hard to know exactly what the Legacies are going to ask for since they haven't but a small trickle in a long time. Once the hiring picks up we will have a better idea. The general consensus is that PIC time, while not required, is a desirable thing to have on the resume. Guess who generally gets hired first.

PIC is not required and may not even be desirable at airlines who fear they may lose a large share of their pilots to legacies. Those include Jetblue, Spirit, Virgin and so on. The idea is that these pilot will be less marketable to legacies and therefore tend to stay longer.