But I'm a little skeptical about the statement, "And this is so much more scalable..."
Now you have the overhead of possibly paying each person for some work, the paperwork that goes along with it, the management aspect of it if it goes wrong (and it will go wrong, the fact that it didn't in 8 interviews is just the reality of a small data set), not to mention the review time for the team on each project.
I don't doubt that you get better hires out of this process, but calling it scalable is a stretch on reality for companies greater than 20.