tests are ofcourse very important, but fact of the matter is, bright smart and arrogant young engineers-to-be are very eager to show everyone how much better their version of the 'thing' is, and desperately want to write their version of the thing: they don't want to verify someone else's version of the thing.
if we're being honest, how many people do you really need to do the design of some hardware feature? realistically the design can be done by one person.
so you might have one lead designer, delegates each block to 10 guys, and everything else is basically 'monkey work' of writing up the state machine logic, testing it, and hooking it all up.
and now lets count the number of companies that can put up the capital for tape-out: amd, intel, arm, nvidia, meta, aws, google chips, apple, and lets say plus 50 for fintechs, startups, and other 'smaller' orgs.
so if you want to do design, you might be competing for... lets say 3 lead designers per org on avg, 3 * 50 = 150 silicon design spots for the entire globe. to add, a resource in such scarce supply will no doubt be heavily guarded by its occupants.
i did this calculation back when i was still in uni. i'll never know if it paid off, or if it was even rooted in logic, but i remember thinking to myself back then: "no way in hell am i gonna let these old guys pidgeon hole me into doing monkey work with a promise of future design opportunities." arrogant, yes, but i can't say i regret my decision judging from the anecdotes i get from friends in the hardware world.