It's not at all hard to imagine that the best known company in the industry, the one that spends the most on direct outreach to clients, whose compensation system more or less sets the standard for the industry, a company that is essentially rolling in money, is able to make a conventional recruiting process viable for itself.

Having said that, if you talk to Google people who are close to hiring, especially about the process that connects "interviewers" to "recruiters", I don't think you're going to hear consistently good things about how the system works in practice.