You allude to a bigger problem: anyone outside the industry who looks at the hiring process for developers would be put off. I know anecdotally that the industry is struggling to get students interested in software development as a career, and good developers are loathe to leave their jobs. I don't blame either group.

Would I want my kids to spend their careers being put through the wringer of multiple high-stakes interviews or be forced to moonlight in order to get jobs, something that gets progressively harder as people reach their thirties and gain extra responsibilities? No. Rather stay away from the field entirely and look for a more stable career.