A friend’s father who was a manager at a giant US conglomerate in the 1960’s and 1970’s did have this to say about stack ranking — they were more willing to take a chance hiring someone from a non traditional background or with a weak resume but good interpersonal skills. Often times it wouldn’t work out but occasionally they might find a diamond in the rough, but they’d be willing to take the chance because they knew they’d be getting rid of people anyway.
But holy fuck I have no desire to work in such an adversarial low trust environment.