But you'll never get as far as an interview.
You'll end up wasting the HR department's time, your time (you should spend at least an hour applying to each job), and so on. I can't speak for every employer, but I know when we get applications for jobs that will never happen for that individual, their CV doesn't go in the database, it gets deleted. Or, as we did last week, if we're feeling especially cocky, we will bring in someone who is seriously under qualified and throw them under the bus, asking them questions and putting them in the scenarios that the position requires. The responses we got were hilarious.
I'm not a pessimist, I'm a realist. Fucking right I'm going to be a high level executive someday, but I have to take it one step at a time.
Regardless, I know many people have your perspective. Although I don't agree with it, I do understand it. What I've seen first hand isn't convincing though:
My friend, who I mentioned before, followed this mass application strategy and got a job after 6 months. It was by referral in the end, a neighbor's friend or something. In the six month span, she only got one interview for a position above her head. And guess what, they made her feel like an idiot in the interview and really messed with her confidence. The job she eventually got isn't even in her field.
My girlfriend applied for jobs in her field and that she was qualified for. After 5 weeks, she had three solid interviews, and two offers to choose from.
But hey, if you find that pumping out CV's is the best strategy, go for it. I wish you the best in your future endeavors.