I think the point is more to filter out people quickly who you couldn't be in a sustainable relationship with anyways.
I don't mind it as much as i used to anymore. But ten years ago, i consistently associated "small-talk" people with people who were superficial and wouldn't comprehend important issues should they ever come up anyways.
You need a bit balance of everything. I used to be snooty about small-talk. Eventually I started noticing that the most personable people, who make someone new feel welcome, included, and who make you feel like you're noticed and worth remembering through recalling basic personal details--these people have excellent small-talk skills.
I think part of why small-talk often feels pointless is because people don't enter into it intentionally, with purpose. If you go into it with purpose, like creating a good social experience for others, or building/maintaining 2nd/3rd order social connections in a humanizing way, it feels a lot different. Like anything, it's still exhausting after a certain amount.