Still, that single tender can be on the order of a billion tokens. Even if the LLM supported that insane context window, it's roughly 4GB that need to be moved and with current LLM prices, inference would be thousands of dollars. I detailed this a bit more at https://www.tenderstrike.com/en/blog/billion-token-tender-ra...
And that's just one (though granted, a very large) tender.
For the corpus of a larger company, you'd probably be looking at trillions of tokens.
While I agree that delivering tiny, chopped up parts of context to the LLM might not be a good strategy anymore, sending thousands of ultimately irrelevant pages isn't either, and embeddings definitely give you a much superior search experience compared to (only) classic BM25 text search.