I hope this doesn’t sound like “old attending yells at clouds” as I’m not that old, but *shrug* from me at the concerns. Some perspective:
Back when I studied for Step 1 with nothing but an annotated copy of First Aid and some junky micro book (before all the third party stuff available now), yes, the fail rate was like 5-7%. What you’re not taking into account is if you passed (yay!), but had a score of like <225 (boo!), you were also fictionally relegated to FM in western North Dakota. That percentage plus the failures would almost certainly eclipse the ~10% now. I don’t think the world has fundamentally changed - it’s just a different way of looking at it. Since the <225 folks of old couldn’t hide behind a Pass on their report, today’s students might very well have a better situation.
There has to be some gatekeeping, and I don’t have an answer for what a failure rate should/needs to be. It’s not an automatic end for a career in medicine at least.