Did it? What I see instead is total mistrust of the open resume pool, because the percentage of outright lies, from resume to behavioral to everything else is just that high. So I see companies raise their hands and going back to maximum prioritization of in-network candidates, where we have someone vouching that the candidate is not a total waste of everyone's time.

The one who loses all power is the new junior straight out of school, which used to already be difficult to distinguish from many other candidates with similar resumes: Now they compete with thousands upon thousands of total fakes which claim more experience anyway.