FAANG and peers set the bar about 1-2 std. div. above their typical hire. The cost of a bad hire is much higher than the cost of a missed good hire. People run the gauntlet. You can do the stats, but it:
- Misses a majority of good hires
- Rejects a supermajority of bad hires
Unless you are 1-2 std. div. above a typical Googler, you should expect multiple interviews before you're hired. If you're qualified, and it's 1 std div, it takes about 3-4 tries. If it's 2 std. div, it takes 20(!) tries. If you're underqualified, that goes up very rapidly, and if you're overqualified, it goes down a bit.
Few people are overqualified on all axes (soft skills, coding, system design, etc.), so virtually everyone runs into rejections like this. The sooner you learn to deal with rejection, the better off you are.