You're forgetting a few details.

a) it is ab-initio. The training includes your hour building etc.
b) the 138k includes the type rating for 737
c) it all includes VAT
d) it includes accommodation and full board during the whole time

So, before complaining about it, remember that 30k of that is tax. Then you get food and room for the whole year or so, it includes all the test fees (these are thousands $$), and so on.

So no, it's not a P2F scheme.