I think that airlines like to hire these low time pilots because they are young, new and dont have the priorites as older people do. I may be wrong but maybe they see "new" guys as a way to exploit the system into yet lower payrates/benefits thereby reducing costs. I imagine that most people at 20-21 dont really care much about things like pay, benefits, let alone retirement!! At 21 its all about brag rights ( "Im A pilot!" ) rather than ( "Hey I get good benefits and can feed my family too!" ) - I was there too.
I mean - think about it! if you were running an airline wouldnt you want it this way?
You get all the benefits of having young employees - Low wages, Low benefit costs, and by the time they start thinking about retirement they are long gone doing something else.
Personally I don't see much change from this in the future, it seems almost as though the career of "Pilot" as we know it, is being dismantled.
Its Cheaper to Train'em than to keep'em! And lets face it - all this automation is making it much easier now more than ever - Really taking the pilot out of piloting. If anything we should want it to stay complex and challenging thereby keeping you as a valuable resource to the industry.

Nothing against young blood - I am too - just stating what I believe and the pill may be hard to swallow. I know i choked on it a few times -and it is similar to the experience of recieving a paycheck when I was flying the RJ.