I totally agree with that comment.
I spent YEARS contacting various City institutions trying to get work experience, anything. Most didn't respond or just said no.
My boss's 16 year old DC will be doing work experience in our office over the summer. By her own admission, her DC is "rather stupid, but a lovely person", and I doubt has any interest in working in the City. DP says it's the same at the bank where he works - all work experience people are children of either senior people or important clients.
Then, when applying for these jobs, one of the most important things they look at is work experience.