What percentage of resumes are actually 'good'?

Sometimes I feel insecure when I apply to a posting that has hundreds of applicants on Linkedin, I feel like one of them has to be a better candidate than me usually. At the same time, a large portion of them have to be low effort applications/low quality resumes. For anyone who has reviewed resumes, what percentage of applications are usually bad/not relevant?

Currently applying and interviewing for roles in equity research, for anyone who is in the field and has input on this. 

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