What I hate to think about is what happen when the pendulum starts swinging back. My partner is in print design, and most companies seem to put candidates through onerous application procedures because they can.
This is part of why the fizzbuzz test sounds so funny away from the coasts. If the supply-demand dynamic is such that you "have to" interview any warm body that applies, you need a fizzbuzz test. If the supply-demand dynamic is such that the entire workforce is ridiculously overeducated and overexperienced for the job, you only need fizzbuzz if you're trying to bottom feed (only offering $12/hr 1099 no benefits, that kind of thing)
To make things worse, I can't get SV companies to give me the time of day. They all seem to be focused on poaching "rock stars" from each other and operating under the arrogant assumption[1] that anyone worth a damn has already moved there because, duh, everyone wants to be here.
[1] An assumption I have seen voiced here and elsewhere, and can probably dig up the references if I try hard enough.