Just to weigh in on the flip side of this from a hiring perspective, if it's clear to me that someone has done zero research on my particular company, has no knowledge about what it is we do, and has no articulate explanation of why this particular job is a good fit for them, then I pass on the candidate instantly. I don't know if the shotgun a resume with a cut-and-paste cover letter approach works to some degree, but it at least doesn't work for me.
I know that applying to jobs is a pain in the ass, and that there are far too many bad actors on the hiring side (ie not giving a clear no and just ghosting applicants). But if you enter the application process making it clear you have done your research, you know what the company does, what the specific role is, and even better if you know something about the people on my side, who you want to work with and why, etc. then you are guaranteed an interview and you're starting a mile ahead of anyone just shotgunning in a resume. Yes, that takes a LOT longer than 2 minutes. But with that approach maybe you won't need to send in hundreds of applications.