I know under the current rules that you're ineligible but if the rules change and your life circumstances allow you to apply, fucking go for it. Worse case scenario you wash out or you don't like it and you're stuck doing something you don't enjoy for 2-3 years. Also realize that new is strange/different and a new AETC/CC or CSAF could CNX the program if he/she don't like it.
Best case scenario, you get to do some awesome flying that you always wanted to do and help some motivated dudes/dudettes progress through a tough program. Sometimes there's a lot of negativity on these forums that tends to drown out what could be great opportunities or experiences for some.
In regards to the credibility issue, if you're humble, willing to work hard, and a good dude/instructor, IMO it shouldn't be an issue. I was late rate to pilot, went through UPT as a Captain. I had more combat hours than all of my FAIPs. That data point was completely irrelevant to pilot training and it never came up, because the FAIPs were there to teach me basic pilot skills and I was there to learn. The fact that my FAIPs had no combat or "real world" experience never mattered to me at all because it wasn't relevant to the training at hand. My operational experience also didn't count for fuck-all. Similarly, if you're a good instructor and are effective at teaching the UPT syllabus, the fact you're not military and have no operational experience won't matter either.