I've simply not seen this at all. As someone with 10 YOE who was in the job market from November to early April going for senior software engineer roles, quality and architecture seemed to be the thing every org cared about. The bar not only to secure and interview, but to get hired was unbelievably high.

Some of the interviews I were getting were at AI startups and all of them were either doing architectural questions or multiple rounds of architectural, behavioural and leetcode problems.

Only one of the orgs was hiring junior engineers and the director of technology mentioned to me he didn't want to as they were "incapable", but it was a quota given to him by the board.

I also got told by multiple recruitment agents that I wasn't experienced enough, and some hiring managers were demanding 15 YOE for a senior role.