This is what I'm getting at: It's an easy market for the domain expert to be great at. How hard can it be? With the added criticism that I see little value in less competent people doing it.
Having a little experience coding is definitely a good thing if you are recruting software engineers. However, you don't need to be able to build a distributed system using AWS.
A good recruiter only recruits for a specific horizontal or vertical niche and knows enough about that domain to talk.
One way to extract value from that chain for an engineer would be, to offer tech consulting/teaching to recruiters.