My goddaughter and her brother have both done them. Hers through an i ternational bank/finance company and his a large construction company. She is a chartered accountant and he is a chartered surveyor. They are both early mid-20s, each owns a property, a decent car, or a company car. They earn good salaries, one of them travels all over the world with work. No student loan debt. They both were with others their same age in a small group so made friends doing it and had support. The work is really tough- long hours,high-pressure, high expectations.
Another friend has two children about the same age (one slightly older) who went through typical uni course route. Both got 1sts in arts subjects, have student loan debts, neither has a decent job- short-term, internships, poorly-paid, not been able to find what they actually want to do so change direction. They rent a room in flats, are often out of work, struggle for money. One has an old car, the other no car. No possibility of either buying-they can't save.
All 4 are lovely people but the degree apprenticeship route seems to have somehow instilled some drive, willingness to work hard to be successful and real independence in the first two. The second two are still 'drifting'. One is currently between jobs so has moved home again and is living off parent, the other has been given thousands by parent over the last two years to re-train as something else but is now paid per session of what he does and regularly isn't working.
I suspect all 4 will be fine in 10 years time and the process has just not really provided the second two with any direction or routes to employment or the skills to compete or a sense of the world of work. However, they certainly have not faced the kind of competitive and work pressures the first two have-which has not been an easy experience for people late teens/early 20s and made them grow up quickly.