> I see these challenges as a great way for excellent experienced developers to weed out incompetent companies.
This is far too broad. There are plenty of jobs in certain companies where a good understanding of the theory and practice encapsulated by these challenges is the bare-minimum requirement for doing well. Companies that leverage coding challenges like these for these positions aren't incompetent (at least, not for that reason). Just because your work doesn't require this depth of understanding of CS doesn't mean there is no such work.
I'm skeptical, however, that the number of such jobs is very large, even in the "usual suspects" companies (Google, Amazon, etc.). Most jobs, even in these places, one can get by with the most rudimentary ability to understand what 'greater than' and 'lesser than' means and a chart describing time/space complexities of various structures and algorithms in a library.
This is far too broad. There are plenty of jobs in certain companies where a good understanding of the theory and practice encapsulated by these challenges is the bare-minimum requirement for doing well. Companies that leverage coding challenges like these for these positions aren't incompetent (at least, not for that reason). Just because your work doesn't require this depth of understanding of CS doesn't mean there is no such work.
I'm skeptical, however, that the number of such jobs is very large, even in the "usual suspects" companies (Google, Amazon, etc.). Most jobs, even in these places, one can get by with the most rudimentary ability to understand what 'greater than' and 'lesser than' means and a chart describing time/space complexities of various structures and algorithms in a library.