That’s the excuse they give yes. But given the current job market and the fact that the person is applying for the job, they may not like the job but they’re probably not going to be able to find anything better so there is little risk to the company. The real reason they don’t want to hire over qualified people is because they’re likely to raise up in the ranks and become a problem for the recruiters themselves. Has anyone ever met a genuinely competent HR person?