> Honest question: do people actually apply to jobs because it piques their interest?
Yes? I mean, I have to work somewhere, but I'd prefer to work on problems that I find interesting.
> I don't apply for any jobs that require a cover letter.
Where I work cover letters are optional, and give the candidate a bit of extra space to explain how their experience is relevant to the role.
I find this becomes less and less relevant with seniority: if you are an obvious fit with oodles of experience then the letter won't tell us much. But I find the letters pretty interesting for more junior candidates, or people coming in from different industries.