This is such a terrible take worthy of not making it past Econ 101. Yes in theory a completely free labor market is cool. In practice, centuries of labor exploitation and history of workers’ right show that this will quickly devolve in employer’s favor.
I guess as long as abending of interviews is still legit, it's as viable to take walk-ins as to take electronic applications. Just be sure to act on any GTFO needs before the start date. The interview process is longer to accommodate those legal protections, but those don't start until hiring (or something that isn't the first conversations), right?
Long story short: I think we can lengthen the interview period to accommodate those legal time sinks without killing off the (now a bit of a novelty) meatspace first impression. Unless you're talking about blind selection, where the candidate's likeness (name, etc.) is redacted for DEI. In that case, I can see how witnessing the candidate's skin, gender, etc. could be problematic. TFA even explicitly included the types of things we try to leave unspoken these days: excellent health, 5'4"?!
Things would function just fine, if not a lot better, without such unnecessary burdens being forced on employers and employees.