Earlier quoted context omitted.
Other than the pain of being rejected (or rather the lack of validation), where does this reliability problem manifest? Elite tech companies have no problem with the current implementation of technical interviews. Engineers whos skills range from Great to Mediocre don't have a problem finding a job. Software quality has generally improved or stayed the same.
This is demonstrably false. Lots of great engineers are terrible at interviewing. If you ask around, you can get even some very high-profile devs to tell you stories about why they're not working at Google or Facebook or Amazon because of how badly their interviews went. Equally importantly: lots of terrible engineers are great at interviewing, and most people in the industry have had the experience of working alongs…
You mean lots of companies are terrible at firing terrible engineers.
The argument is basically the current implementation leads to false negatives. What impacts does that have?
Presumably those very high-profile devs aren't lacking employment opportunities, even if it isn't at the elite tech companies.
Companies, from Elites down to pleb-tier, while perhaps pressed for resources, are still able to execute.
So why is the problem of false negatives a problem we should focus on?