Personally, I think it's worse than 2000. There are so many more actually talented engineers now competing for each job. The dot com boom and bust cycle was famous for people being hired (and then laid off) who had little to no background in software. I don't see that being the case now.

It's possible my interview and other skills have declined, but after being rejected only once in the first 25 years of my career (when I was fresh out of school and terrible at interviewing), I've now been rejected from a half dozen jobs where I got to the panel interview. This included one where they said they planned to make an offer but ended up going with a different candidate. Another where it felt like a perfect match but then they never even got back to me. Another where I bombed a dynamic programming problem that leetcode puts at its most difficult rating. YMMV but I think it's tough out there.