Maybe not so much in a perfect world, but in reality it is often the case that some kind of filtering is needed. I work at a place that's fairly competitive to get into -- some positions get upwards of 20-30K applications for one position. Most of the engineering team spends enough time interviewing as is, so often it is, unfortunately, the case that stuff like your degree and what school you went to does materially (negatively) impact your chances. At some point, one must find a way to cut down these numbers. Cannot speak for the average case, though.