500 hours IS entry level, barely...it's barely beyond student. At 500 hours all ASEL land time is going to have the same meaning (unless it's an F-16). ME time might be more attractive, as would turbine time.
I attended an interview years ago in which even my four-engine bomber time was discounted...because it was all piston. They classified it the same as a Cessna 172...all piston. It is what it is.
The F-16 is turbine, but a single, and not that valuable in terms of experience (for an airline) either. The deciding factor isn't the aircraft, it's the pilot.
Building time is a fools errand to begin with, and it's not the same as working for someone else. Gaining experience while getting a paycheck (however minimal the pay may be) is quite different than buy hours yourself and flying them off. Build experience, not hours.
I've known those who bought a small experimental and flew it to death, before applying for their first job. They had the money to invest and the time to do it. Personally, I'd much rather see someone put their nose to the grindstone and go flight instruct, fly jumpers, tow banners, and do all the other things that most of us have done to get ahead, rather than try to buy their way ahead.