Yeah that sounds pretty close to what my experience has been recently. The most disheartening part so far has been getting ATS-rejected from a job, only to see the same job freshly posted again a few weeks later.
Yeah, it's been an interesting emotional experience to flip from years and years of "I should have no problem getting a job at any tech company if I don't screw up the leetcodes" to "I'm not even worth a 30 minute recruiter chat for this role, let alone a technical phone screen or a full interview loop" :)