This is a great idea for apprentices/entry level talent. However what I see in FAANGs is that though we claim to have a shortage, the reality is that demand is low (internal headcount) and supply is high (for ELTs). The leetcode style coding interviews is very very pushed for so that we can have a standardized process whether that is what the job entails or not. After all most of the work being done is on some custom stack anyway. The downside of this it ends up impacting experienced engineers who are being evaluated on the standardized tests rather than experience sadly. I feel this may even be the desired outcome!