This is, legitimately, one of the most comments ever written about the job search process on HN. Employers run a portfolio strategy for candidate selection, much like sales guys run a portfolio strategy with regards to leads. Making the wrong decision on a candidate/lead is totally acceptable. Missing an opportunity with a candidate/lead is totally acceptable. Spending time investigating a candidate/lead which doesn't work out is not just totally acceptable it is the entire freaking job. If an employer has a 100% acceptance rate on candidates or a salesman closes 100% of leads that is an alarming signal that the process is out of control: they're clearly not exposing enough people to it!
Candidates need to understand this.