At the risk of sounding like an *******, I think pilots come in waves. There are many major pilots that got on when times were very easy, then there are those that got on when times were tough. I've heard a bunch of stories of inadequacy in a major airline cockpit as well. And there is a consensus that in many ways it was easier to land a major job more in the past then it is now. But yes, many many many pilots that are products of the last hiring wave should probably still be flying in the pattern at their local airports right now. It's true, I've seen many hopeless cases that have slipped through the cracks. The good thing is that RJs almost fly themselves.