For employers, it's casting a wide net and then struggling to filter out "noise" quickly. Employers will use pass on great engineers and interview not-so great ones (see parent comment). Instead of saying, "Work for us, we're the best!" why don't engineering teams say, "We prioritize speed over quality, are great for individual contributors, and prefer asynchronous comms over lots of meetings. Work for us if this sounds like you."
For job-seekers, the problem is applying to dozens to companies that you don't even want to work for (and just don't know it yet). If I value quality over speed, prefer working in teams rather than independently, and believe in-person meetings are incredibly valuable, then I would know not to even both applying to the company above.
?? The problem is not employers casting a wide net, but everyone applying for the job.