That's because the process to have any chance in the competition to become a doctor is arduous and there's no consolation prize.

If you aspire to work at FAANG and fail you can be a software developer somewhere else. If you aspire to be a doctor and aren't admitted to med school, those years of education, volunteering, shadowing, test prep, etc. are fairly useless.

And even if you succeed, the hours are as bad as can be and the pay isn't much better than FAANG. It's not a logical choice unless you really want it, while software dev is (was?) a great career choice even if you don't care about software.

For all these reasons, a lot of people are filtered out long before applying to med school.