I only have 3 years of experience but with three job hunts, the last one I just completed recently.
My new grad job hunt, I received minimal responses cold applying online.
My second job hunt was a one and done poach.
The most recent one, I received a substantial percent of follow throughs. I cold applied to 6 well known SV companies and received a response from 5 of them.
I don’t have any other insight I just wanted to provide an additional data point.