I started flying when I was 17, got my Multi-comm and CFIs at 18. I instructed for a 3 years and then couldn't fly due to employment authorization issues followed by a downturn of the industry after 9/11. After a 4 year break in flying (wife + child, followed by divorce after 3 years), I had got back to flight instructing, got my ATP and now I'm 30 years old with 1900+ TT, 300+ ME and a Masters Degree. I've waited 10+ years for a regional job and I'm still waiting....
There are plenty of pilots currently at majors that worked 4-5 years as flight instructors and another few years at a 135 operation. When I got my pilot certificates in 1998, the trend was 1500 TT and 500 ME to get hired at a regional. Then a few years later pilots started getting picked up with 250 hours and now everyone in flight training expects to get hired with 700-1000 hours. The "new" law is nothing new, things are just going back to the way they were 10+ years ago.
My suggestion to you is that you take your time to get the flight time and experience you need. The FAA doesn't allow you to get your ATP until you are 23, so if you really want to be a pilot, get your CFIs and start instructing while going to college to work on a degree. At your young age, there are plenty of options for you. Three of my students got their Bachelor's degree and went to the Air Force... it's another avenue for you to consider.