Of the two sides, only one is currently being paid to address the companies needs. If they are indeed a waste of time, then you have found another problem that needs addressing.
What I mean is that from a hiring company's POV an in-demand candidate who won't submit to nonsense because they can afford to will usually be a liability due to the power imbalance. They will either not need the company and bypass them in the first place, or create the risk of dangling interest for a long time before ghosting or declining.
Of course, for the target company itself that is looking for hires the employee in question may well be great but the incentives are not always aligned with that of the hiring company