Joel Spolsky nailed it with his article on why everyone thinks they're hiring the top 1%: https://www.joelonsoftware.com/2005/01/27/news-58/

Basically, there's a ton of completely unqualified (or even under-qualified) applicants who apply to just about every job opening out there. If you've ever been on the other end of the table, posting a job opening and sifting through applicants, the situation becomes clear very quickly.

I'm actually surprised 250 make it past their initial screen. The rest of the numbers seem reasonable to me though.