Let's play along with the RAA for a minute and follow their wish to the logical conclusion. Let's assume that regional airline management(s) are successful in repealing the 1500 hour rule and let's say that the minimums are lowered to 500 hours, total time.

When minimums are reduced to 500 hours, total time, nearly every CFI in the nation will apply to a regional airline and will be hired. This will lead to a severe shortage of CFI's, which will lead to a severe shortage of private/instrument/multi/commercial pilots, which will lead to even MORE severe shortage of CFI's, which leads us back to a severe shortage of regional airline pilot candidates.

This thing has reached critical mass! And regional airline management is too short-sighted to see that lowering the requirement to become a 121 first officer is not in their best interest, long term. In fact, as I see it, lowering the minimums will exacerbate the problem.