After my (virtual) TB interview (which I barely passed), I had onsites at 5 places. After the five on-site interviews, I had 2 job offers, one of which was a company I wanted to work for since graduating college. I took the other offer.
This was preceded by a four or five month job search. I had received two offers in that time, but nothing seemed great.
I think TB's process kinda worked, but I understand your skepticism.