People already in will be grandfathered in with the rules. As to the ATP, it's not that big a deal once you're in the airline for those who don't have it. It's not easy, but it's really not much harder than a regular sim check with a few more items included.

If (big IF) the new rules are actually implemented it will be a game changer. I'll believe it when I see it.

As for low time pilots? I've flown with a bunch of folks recently who are pretty low time (less than 1000 total) and they are terrific. Enthusiastic, well-trained, smart, etc. Just what they should be.

I pick on our company a lot, but they do a good job hiring new pilots.