For every job that it's open in one of the FAANG, recruiters get thousands of applications. It sounds like many are trying, but the vast majority never gets a call back. Others cannot pass the interview. Others again are not interested in working in a very demanding environment.

I worked at a FAANGs, now I work in lower-tier tech company. I make 3/4 (low-ish upper tier) of what I used to make, I work 1/8 of the hours I used to work, work stress is non-existent. Many people, many reasons.