As for the rest, most of it comes are a result of past bad practices of wanting to sift for unicorns using various forms of automation that now is being gamed. Several smallish tech companies in my area are doing fine with recruiting because they remained focused on doing in person events at the universities in the region instead of hiring a bunch of external recruiters to filter on all manner of non-technical nonsense and then shove what little made it through into an endless HR pipeline full of leaks. The excesses of the tech industry, most driven by a combination of MBA greed trying to squeeze every last fraction of a percent out of labor costs combined with fashionable luxury social beliefs are why the "crisis" exists.
There's plenty of talent. Some of it on the sidelines, much of it rapidly leaving the industry, most probably forever. There's a very dark winter of talent coming and no amount of open borders to global labor markets is going to undo the damage that's been done.
When the referral pipeline is full of strangers who asked for a referral on teamblind.com, it too ceases to be a useful signal.
Anything that exceeds 4 interviews is unnecessary. I am unconvinced that it is beneficial to anyone.
2 impacts to people looking for a job:
1 - The first job just got a lot harder to find.
2 - You have to be proactive about finding someone in the company you want to work for.
