In an extended bear market / downturn, throw that ratio out the window. Unless you're literally John Carmack or Ken Thompson, you're not going to just have headhunters begging you to work at their companies. In fact, even fishing expeditions from recruiters are going to quickly die out. You'll have to apply--a lot! You'll have to struggle to stay on your recruiters' radars. You'll have to follow-up, pinging for updates, "let me know how I can help move this forward" and so on. Things aren't just going to fall into your lap. This will be the case until we flip back to a bull market and hiring returns to "normal."
BTW my discipline is embedded / mobile development and then project management. Not that I think it matters--macroeconomic effects tend to hit uniformly across engineering disciplines.