Consider the fact that many desirable jobs get hundreds of applicants. It's entirely possible that even if your resume is top notch it got lost in a huge pool of candidates. You need to send your resume to hundreds of companies. I have a top-tier resume, and when I job search, I aim to send my resume (and cover letter/email) to 10+ companies per day.
On the other side, last time I was hiring, I was shocked at the low quality of a lot of applications. Applications that weren't complete, didn't have a resume, cover letter and work samples of some kind got immediately sent to the trash.
Why do you care about cover letters? I haven’t written one of those in probably 20 years. If I’m hiring and a candidate includes one, I usually ignore it (when hiring for an individual contributor, engineering role).
The complete mystery re: which elements of an application and interview are must-have or must-ace and which are ignored entirely, downplayed, or even taken as "red flags" ("what might that be?" wearing a suit to an interview, or just dressing above business-casual—required some places, practically a guaranteed "no" others) is one of the most frustrating things about interviews. Which is saying something, really, because most things about interviews are pretty frustrating.
I'd recommend presenting yourself and dressing as you'd like. You'll attract companies that are a better fit than one where you're fumbling for the "right" way of doing things.
A cover letter is an introduction. It's easy, and polite. Skipping it communicates low effort and poor communication skills. I don't want to work with low effort, poor communicators, even if they're genius programmers.
To me they just seem copy-and-pasted and therefore of very low value, almost noise. I want to know if you can get the job done, and that is what a resume and interviews are for.
On the other side, last time I was hiring, I was shocked at the low quality of a lot of applications. Applications that weren't complete, didn't have a resume, cover letter and work samples of some kind got immediately sent to the trash.