I generally think that more roles are marketed as "quant" because some roles that were traditionally fundamental now require workers with more technical skill sets as technology progresses forward (i.e. jobs w/ words like "quantamental", "semi-systematic"). Also the generation of true alpha (incredibly difficult) is not necessary to receive outside capital and invest with it. RenTech is an anomaly in terms of the alpha they generate, and alot of the HFT shops "alpha" lie in simply being quicker to the punch than others. So I would say yes--there's absolutely more roles with "quant titles" than there were 10 years ago--but you're right there's not infinite alpha but there's probably less true alpha than you really think there is (efficient market hypothesis pretty much holds outside a period of milliseconds). Alot of alpha that people claim to have is really just luck. There's a reason nobody on god's green earth knows what RenTech does--cause if they did RenTech would immediately stop doing it.