I was talking about 25 onsite conversations leading to 10 offers and maybe 3-5 acceptances. In order to have 25 onsite conversations companies likely have to talk to 125-150+ total individuals via phone/email/networking events. That's at the low end once all the processes are dialed in.

I agree that companies have to be respectful of candidates' time. People do talk to their friends before they engage with companies or accept offers and word can get around fast if companies mistreat candidates (as it should).