>Does that mean selective hiring needs to end?

In all honesty, I'm of the opinion that job recruiting should involve an objective "required skills" floor, and then a lottery for all who meet it. It'd been known for some time that hiring is very difficult to do objectively and often has similar outcomes wrt retention as sheer chance. Luck plays a massive role in opportunity and accomplishment, and a systematic acknowledgment of this might do well to readjust people's attitudes towards how professional accomplishment squares with economic dignity.