Powertec Telecommunications interview questions

Great Interview process but very deceitful. Looked like they got their person already but just wasted my time. I was a bit too overqualified and i felt like a competition. Two of my interviewers were my to be bosses and they were field technicians who got to the position through career progression. I have a Masters degree and previous Projects experience and professional certifications to solidify my knowledge, even the HR said i was the best fit for the position and will quickly progress through the ranks. I was shocked when they decided not to give me the position and offered me a lesser position. Was a big insult to my skills and knowledge. Worst part of it was that i was willing to take a little paycut from my previous position and truly believed in the company but was treated like crap.