The interview process, despite all it's shortcomings, was a good filter. It has been massively neutered in the recent years and is gamed every which way now by the hiring team's leadership, which is the one of the main reasons responsible for massive dilution in median talent.

The interview process is flawed, but it did prevent totally incompetent candidates. Now instead of being replaced with an alternative which measures something else, it has just been watered down.