Some companies have recruiting processes that are extremely selective.
The standard is in fact so high that they recruit few people, despite doing large numbers of interviews, and despite needing to fill many positions.
Paradoxically, the company feels good about its inability to meet its recruiting needs. The company thinks that its incredibly selective process ensures it is getting the best developers.
More likely their incredibly selective recruiting process is just interview questions that don't actually identify great developers, instead just asking questions that (of course) eventually manage to find fault even with great developers. Almost everyone gets filtered out.
The company doesn't mind however because the large number of rejections builds a sense of exclusivity and elitism. This elitism strokes the company ego, reinforcing the value of the overly selective interview process, entrenching the ineffective process further.