There’s nothing wrong with this model, it produces tradespeople with solid fundamentals and practical experience that they would not receive in a diploma mill.
Healthcare isn't tied to to an employer and the base level of "free" healthcare (supported by across the board taxation) will keep most alive and get you into an operating theatre for, say, a femoral artery heart stent placement at no cost other than the ambulance (should you not have St. John's Ambulance cover)
For interest:
AU Government on apprenticeships: https://www.fairwork.gov.au/pay-and-wages/minimum-wages/appr...
Electrical Union on same: https://www.etunational.asn.au/apprentices/apprentice-wage-r...
1907 Harvester Decision set a ‘living’ or ‘family’ wage: https://www.fwc.gov.au/about-us/history-sir-richard-kirby-ar...