What rate are you accumulating hours at? 50 a month? more? less?
I would probably get another 75 hours or so and then reapply/update the app.

Re the interview, I studied probably 40 hours to get ready for it. If you haven't already, start studying for the ATP knowledge test. You'll need that info anyway.
I think they just aren't interested in you "now" because of where you're at in regard to meeting their criteria. Get more hours, study, and try again. They are going to be hiring for the next year (if all goes according to plan) so keep moving forward.
Keep in mind that some of the lower time people granted interviews may have had military time which carries more weight.