True, but I think the level of power they have is disproportionate. Say there's 20 people interviewing for a position. That's 20 people who need to convince the employer that they're the best person for the job. The employer only has to try really hard to get the one employee that they really want, but even that one interviewee makes it easy on them.
Partly because he or she doesn't know they're "the one," but largely because that's "just not how it's done."
You're trying to sell yourself to the company, but you also need to make the company sell themselves to you. The situation doesn't need to be this unequal.