Right, it's a little absurd to complain about flaws in a potential hiring filter without realizing how incredibly flawed current hiring is, relative to some unrealized ideal.
Respectfully I disagree, if something is bad then the fact that the other thing might be bad doesn't make it ok. Either be demonstrably better (this isn't) or stop.
The solution does claim to be better along some axes; your statement would seem to imply that you can't work towards a solution to any problem until all of them are solved. That seems like a recipe for never improving anything, no?
It would be like complaining about an agricultural innovation that's projected to reduce starvation, because it doesn't also cure diabetes. I wouldn't want such progress to "just stop" because they're leaving a given problem unsolved.