They're sought after, but the conferences have also grown huge. NeurIPS 2018 accepted around 1,000 papers! Based on a query of the DBLP [1] dataset, there were 4,409 distinct authors who had a paper at either NeurIPS 2018 or ICML 2018 (or both). If you add in a few of the other big AI and ML conferences (AAAI, IJCAI, ICLR), the number grows to 10,995 distinct authors, again solely for the year 2018. The field is hot, but is it hot enough for ten thousand people to be automatically hired because of one paper?
There's also decreasing confidence in the big conferences' review processes I think. NeurIPS 2014 actually did a study to estimate how random acceptance was by assigning some papers to two different sets of reviewers and checking how similar the decisions were [2], and found there was a much higher degree of luck in acceptance/rejection decisions than they had expected. I personally have more confidence in the review processes of smaller and more focused conferences (and journals!), though they don't have the same level of name recognition.
[1] https://dblp.uni-trier.de/
[2] http://blog.mrtz.org/2014/12/15/the-nips-experiment.html