I feel there is often a bimodal distribution of applicants. Those who can do the job and those who are completely not suited. There is a shortage of workers, so you try to get as many as you can from the first bin. It doesn't matter if they are 10x rockstars or Joe Blub.

You just try to sieve out the ones who apply for a DevOps position and then it turns out they are "good with MS office". Or those who neither speak the local language nor English good enough to communicate with anybody. Or those who show up on day 1 and are clearly not the person who interviewed.

I's a luxury to have more than 4-5 good candidates who you'd have to rank. (But to be honest, I'm in education / public sector and the pay here is not competitive with big tech...)