I think this arguably reinforces my point if a company has a process that works yet they complain about a talent shortage.

Part of this complaining can be an attempt to influence/distort government policy, justify a flawed or exploitative hiring process, or managing who to blame when they miss a quota.

I definitely agree that what you said is part of reality for some companies, which is why I think it's important to aggressively point out that there are solutions when the "skill shortage" is brought up.

Additionally, if underpaying younger talent is prevalent, then all the more reason a company should offer competitive salaries to recent graduates when faced with a shortage. They'd start booking some easy wins.