Edit: in addition, if you are 400k+ you'd probably enjoy the privilege of skipping the interview and even having a position opened for you.
Maybe try to make your advice more applicable to at least 5% of the population?
The first reply was concerned about the pay scale and 300-400k are scarce but usually available. So either you are in the < 400k camp where jobs are typically available, or you are in the > 400k camp where you don't have to worry about job availability.
Overall, if your opinion is that jobs aren't available with your pay scale, have you recently searched for one?
It is also not the case that such people get in without interviews. Senior+ (though largely staff+) is generally when you can make 400k and there are definitely still grueling interview loops at those levels.
I'd accept a 10-20% salary hit to skip my 20m commute 3 days a week, but so far the only options have been for 40%+ lower salaries or work that I am less interested in. For me that tradeoff is not worth it.