The software industry's aversion to regulation and licensing is definitely a proximate cause for the current state of interviewing. In order to "weed out" the ones who read the Learn <thing> in 21 Days or are just flat out incompetent despite calling themselves Senior Developers, companies have developed the elaborate and costly (8 developers spending 2 hours out of their day interviewing amounts to a couple of million dollars in time at a minimum) process over and over at each separate hiring point, rather than get together and agree on some sort of industry-wide standard that candidates must meet. Of course, the argument is that they get to impose their own standards of competence and merit, but looking at the makeup of the MAGA (Microsoft, Apple, Google, Amazon) workforce, this process has devolved according to the Iron Law of Oligarchy.

Oh yeah, but there are also a couple of startups out there that promise to solve the hiring problem with their special neural network/big data/cloud-based secret sauce for screening candidates. Shockingly, their algorithm identifies the very sort of people already able to hurdle the current process as being the right candidate under their methodology.