I don't concur that the experience would be degraded for either side.
The pool is going to be much smaller and faster to wade through for both sides. And, once you wade through it, you actually have a match that is much more likely for both sides.
Look, this is the exact same problem as online dating and has all the same failure modes. You break the failure modes in exactly the same ways.
People have forgotten that in person was the way we used to do it. We had job fairs, companies would come to colleges in person, etc. It did work. It was just expensive from the point of view of the company.
Companies gave in person up because online was cheaper. Well, it isn't cheaper anymore now that both employers and employees have pissed in the online well. Whoops.