Fast track courses had, and have, nothing to do with the demise of apprenticeships. Shareholder dividends, short term planning, and the Unions getting too big for their boots are the three main causes.
Bean conters cottoned onto the idea that there was no need to invest time and money in training people when you could buy in the expertise and only pay for what you use. Short term planning screwed the manufacturing industry generally and apprenticeships specifically, 'just in time' strategys and the like. The Unions started to think they were in charge of manufacturing and indeed the universe, went against the wishes and best interests of their members, then got their arses kicked and haven't recovered.
The fast track courses are a knee jerk response to a long term problem. Every government we've had since the war has adopted a 'never mind the quality, feel the width' approach. YOP, YTS, 5 month courses, 5 week courses etc etc etc.
Industry and the wider society are now left in the position of only having one choice, make the best of it. No one wants to pay the bill for creating an infrastructure in skills and training which won't show a return for a generation. They'd much rather spend money on a shiny new fiddle and play it in the glow of the flames.