I can't imagine sending out that many having spent large quantities of time on each one.
[edited to fix typing the wrong word]
Though I'm also open to the possibility that some companies just want to hire some number of developers with 3-5 years of experience in $TECHNOLOGY and aren't too fussy beyond that. In which case, it may indeed become more of a numbers game if a company is basically picking a handful of resumes at random that clear some minimum bar.
Of course everyone wants to be a premium brand but sometimes it just doesn't work out like that.
A challenge is that most job listings are mostly "3-5 years of experience in $TECHNOLOGY," or rather there are so many $TECHNOLOGIES listed that almost no one is going to be an expert in all of them. It's difficult to tell from the outside whether they want someone who has experience in at least some of the core and can learn the rest, or whether they're holding out for the perfect candidate.