I am torn on that debate. I like Chandelles and Lazy 8's, but Eights on Pylons are pretty worthless, IMO. The problem with going from 0 to hero in 90 days and jumping in the right seat of a jet is that you don't have time to become a pilot.
The most important aspect, decision making, is underdeveloped with this process. When you are told where to fly, when to fly, who to fly with, and what weather conditions you must stay under, it undermines your ability as a pilot. I could teach 99% of the population to shoot an ILS approach (believe me, I have gotten some of the worst 1% through), but that doesn't mean they are good pilots. A monkey could fly a profile if you condition the response properly.
I always tell my students that the flying part is easy, especially when flying something like an ILS. The decision making process (pilot error) is what will kill us.
121 flying shouldn't teach you to be a pilot.