I asked that same question here a while back.

One of the answers was (paraphrased), "because we're constantly recruiting for that title, but maybe not the same team." I'm not sure if that was a good or bad sign. Growth? Or constant turnover? Really makes you wonder.

I manage a highly stable tier 2 software team embedded in enterprise, and only recruit maybe once every ~2 years, if that. Hard to relate to what is going on these days.

If your company has 1k devs you'll have to hire several people every single week. At the same time if you want any level of consistency, you can't let teams who have not hired for 2 years come up with their own process, so that's why pipelines are a thing.