I have been told by those in recruiting and HR that less than half of the people that apply to PSA are called for an interview. Of those that interview, about 30% are not offered the job. And then once training starts, we have a low but healthy number of pilots that do not pass training.
There are many airlines that have the same percentages. I would not consider any of these a "fog the mirror" airlines.
The ones that have no real interview, hire anyone that applies, and then has a 95%+ pass rate are the regionals that scare me.
I think that the 1500 hour rule has helped, but the other parts of that plan have helped even more. The better sharing of pria and training records is a huge part of this.