It's not all bad.
A 15 month level-D simulator based program is probably pretty darn expensive...I assume the airlines, not the student, is paying.
The students are probably pretty good kids, at least on paper...I imagine competition for a no-experience-required! job at a major airline has to be pretty fierce. I also doubt the training is a walk in the park.
These countries are not doing this to get cheap pilots, they are doing this because they have no general aviation infrastructure to create a pool of qualified pilots.
If it comes to the US, it will be because our GA infrastructure has collapsed (which might happen in ten years or so). We don't necessarily need to fight it, just make sure the starting pay is adequate.
It might be bad if regionals started doing this, but frankly I think they are too cheap.