This is just the latest escalation in a long-running arms race that incentivizes both sides to spam and use automation. It goes back at least as far as employers using keyword filtering. Now with AI-generated applications, AI-hosted interviews, and ghost jobs, the process is so completely broken that hires rarely happen without "connections." It's turned previously somewhat-meritocratic job markets into the pure cronyism of a corrupt 3rd world country because that's the only hiring option that hasn't been ruined by automation.
Unfortunately applying for 100 jobs doesn't mean getting invited to 100 computerized interviews these days, on average you'd get a number of interviews you could count on one hand, so things are far worse for job seekers who have clearly lost the arms race and are getting absolutely massacred.
I've heard people propose attaching fees to job applications to keep job seekers from growing the haystacks with spam, and while it would work to do that it would also act as an inequality accelerator. But if there were some system in place to limit the number of applications that job seekers could send and punish companies that post ghost jobs it would greatly improve the system.