I agree with picking the best people for their airline who will fit in, but isn't this done to some degree at the start of the application process and job fairs? Also the 5000 applications on file are the same 5000 every airline has on file. I would like to think that my chances are better than 50% if called to an interview.
As far as people jumping ship to another airline that seems to be the problem many airlines except the big 3 are trying to solve. Increase 1st yr pay and it will help.