The new PE construct, like the old 10-yr chit, is not a negotiated benefit.
Therefore, its value is worth precisely what HR decides on any given hiring cycle. Given the recent history of PE usage in the selection process (read this thread history), that will most likely be a numerical zero in the applicant’s composite app score, thereby retaining HR’s full hiring authority while minimizing pilot impact.
It’s the sad truth. PEs at FDX are a puff of smoke, not a silver bullet.