During your enlistment you not only trained but also of course compensated and generally very well prepared to lead a productive life. I think there's a lot to admire about this. But yeah - the issue is when these ideals mix with the reality of enlistment turning into deployment in wars of dubious merit, which is why this whole idea is a nonstarter for the US.
But one example of a nation where it does work well is Switzerland. The reason I mention them in particular is because in 2013 there was a referendum aimed at abolishing this enlistment. It failed with more than 73% voting against it. [1] I think it indicates how well it can work and the value it can provide, but of course again the big difference is that Switzerland is also incredibly conservative in the deployment of their military.
[1] - https://en.wikipedia.org/wiki/Conscription_in_Switzerland