The attention of senior engineers is the single most valuable, expensive and scarce commodity of a modern software company. The incentives are absolutely not aligned for most companies to make it worth their time to hire junior engineers.
But obviously thats a problem - because as you say, where else will senior engineers come from? And I don't think we have a good answer here. The old school answer was apprenticeship - a company trains you up, and in exchange you work for them for a time. But most companies are loathe to do that because you're likely to quit and go somewhere else for a pay bump as soon as you have enough skills and experience that you're worth hiring.
For my money this, right here, is the real problem with modern programming / career development. Whiteboard interviews are the least of our problems.