I have an Ivy league degree, worked in deep learning since alexnet at a leading startup in the space, was a CTO of a startup that got acquired and have referrals from very senior people at the top FANG companies and still struggled to get interviews.
I also have research scientist friends with Neurips papers, ones that solved long standing open math problems and even they are struggling to get hired.
What me and my friends heard from a lot of people at the large companies was that many of them are no longer hiring in the US, but in India, Poland and Brazil instead, and that the roles they have listed in the US are for internal transfers. I've had a referral for Google for months and did not get an interview for NYC based roles, but when I went to an ML conference in Warsaw a few months ago I learned that Google is looking to hire 2000 people there, but with people in that office making ~1/4th of my friends in the US.
On top of that you have a huge pool of bootcamp grads and foreign applicants so any role posted gets 1000s of applications in the first few hours, making it impossible for recruiters to look over all of them.
And if that wasn't enough we're going through a huge hiring downturn post the COVID bump, see: https://fred.stlouisfed.org/series/IHLIDXUSTPSOFTDEVE