They are still going to interview if you choose to move forwards with this one sided time sink [1], and you pass. The first half of that criteria will filter out many of the good candidates.

Which as yanyu says is a signal the company isn't "willing to spend the effort, time, and money to provide a good recruiting process, [which is] a huge red flag for the kind of candidates you want and the kind of employee experience you provide".

Which circles around and creates even more incentive for good candidates not to participate.

There's no doubt a market on both sides for hiring mediocre candidates. Approximately everyone has a job after all, not just the best people, but a tool like this is clearly optimizing for that not for excellence.

[1] See the excellent description of why this is problematic as a candidate who values your own time here: https://news.ycombinator.com/item?id=45801853