Even though it might seem like the recruiter's time is more important, to me it feels the opposite.

When recruiters ask for my availability, I need to reserve that availability until they get back to me. Often they ask for 3 to 4 slots of time, which depending on the week, might be hard to find, and then those slots are blocked.

When they send me a Calendly link, I can pick whatever slot works best for me and I then only that slot is blocked for me.

I recently went through an Amazon interview round and I had to send them my availability three times because none of the slots I sent worked for their interviewers, which really wasn't ideal and feels like their time was much more important than mine.

For regular meetings though, unless it's my manager or a higher up, I do agree that it feels like whoever sends the Calendly link is in control.