1 pre-screening round with the HR, then a round of techno-behavioral interview and then finally a technical interview

I applied online and was contacted by their HR recruiter in order to set up a phone interview. This phone interview consisted mostly of going over my resume and learning about the company. I was then scheduled a phone interview with a Technical Lead based in NY a few days later. This phone interview consisted of one basic SQL question. The lead then asked me if I could show him any of my web based work from school. I told him I would have to look, and he said never mind, it wouldn't be necessary. I was then contacted a few days later for an in person interview. This is where things got a little weird. I went in the next week and met with a Project Manager and a TIC team member. The TIC member asked me three basic questions: how do you define a function in Python, what do tags do in HTML, and tell me three SQL commands and what they do. The Project Manager seemed really focused on why I wanted this job and on my technical background from school. I started to get the feeling that he might have an issue with my experience, and then he straight up said that he thought I was overqualified. I found this odd since the requirements asked for a Bachelors in CS (which I have), Masters degree a plus. The interview ended after about 20 minutes. A few days later I was contacted by the HR recruiter that I initially spoke with. She wanted to know what my impressions were from the interview. I told her that the Project Manager said I was overqualified, and I felt that he maybe thought I would jump ship fairly soon. She said that is exactly why she was calling. Everyone else in the process really liked me, and the Project Manager was the only hold out. I stated why I was really interested in the job and that I had no reason to move on so quickly. She said she would talk with the Project Manager and get back to me. A few days later I was told that the position was filled. Since then I have seen two more TIC positions open up, albeit I'm not sure if it is company growth or employee loss. I just found it really weird that their "required" experience could instill the fear of someone leaving when there is an infinite amount of other reasons where someone might have to leave a job quickly.