It was difficult getting junior headcount in 2023 as well.
That said, I agree with you that AI capabilities have grown massively, but the only way you aren't burning tokens with marginal RoI is having someone with credible domain experience using Claude Code or Codex hand-in-hand.
Basically, no one wants to spend $200K TC on training a junior who will most likely be using an AI tool already. The math works out more positively at a significantly lower TC.