There likely isn't going to be an actual shortage of qualified pilots, at least not for quite some time (student pilot numbers are definitely decreasing). It's a matter of who is willing to fly for regional wages. Flight time also isn't the only determining factor in who is a good candidate. I know a lot of guys who have seen both good and bad out of the lower time guys at the airlines. There are pilots who got hired back during the boom that probably weren't highly qualified, but they got through. Then there are the captains who say they've flown with low-time guys who they would much rather fly with than some high time guys.

It just depends. The days of getting hired with less than 500TT are over, but why not give the guys at 800 who are capable a chance? If the pilots with much more experience and time want the jobs, they likely will get the interview. Lowering the mins like Eagle, AWAC, etc creates a bigger pool with more options to be weighed.