This is correct.

Any new hires will have difficulty upgrading EVER. Two reasons:

1: The company has NO plans to grow. In fact they continue to discuss shrinking the fleet. All these shiny new planes are just replacemts (gain one, lose one).
2. And as everyone knows, there is no retirement age in this industry. Sadly, NJ just had a 75 year old guy pass away. There are two pilots who are 79 on the seniority list. The baby boomers only "retire" via loss of medical or death.

Long story short, if you want to work at NJ, do it for better quality of life if you are already a 91/135 pilot and look long and hard at the FO pay, because that's it. Our otherwise the regional to major career path has never looked better. Cheers.