With the emergence of Google, et al, and the image of being elite, so came the emergence of nonsense like this: https://www.inc.com/jessica-stillman/here-are-all-the-docume.... Getting butts in seats and long processes have replaced getting to know people before hiring them. The burden has been put on the candidate by the process.
I'm with you, OP. I remember the days of simpler processes. After going through the hoops of 5+ interview rounds in 2019 and 2020, I decided to apply limits to what I was willing to do for interviews. For example; I won't do leetcode, I won't enter a process with more than three steps, I won't give more than 5 hours to a process. This has significantly reduced the number of positions available to me, but the positive result is that the positions that do fit into my ruleset are high-quality, smaller companies, with more upside than the larger companies. I find that the companies that do fit into my ruleset about interviews actually want to get to know who I am and what I'm bringing, rather than if I'll just fit an open role or some quota. Now I'm not making FAANG salaries nor benefits, but I really enjoy the work I'm doing, the people I'm building with, and I'm very well taken care of financially.