In addition to all this, you will get a much lower rate than you're expecting. While it's true that you set your own rate, they basically told me if I don't charge at the same below-salary rates as the rest of the people on their network, they won't send business my way.
So huge waste of time on the interview, plus you'll make less than a salaried position for the advantage of sporadic work and no benefits. Stay away if you know what's good for you!
Toptal has a lot of open (internal) positions and their interview process is different than when applying to work on Toptal as a freelancer. Everyone on the Core development team is remote.
The good things are you don't have to chase down clients for payment or constantly hustle for gigs like other freelancer sites, it's like a temp agency they do all that for you, and you work for established companies (AirBnB ect) so hopefully the person telling you what to do has an idea of what they're doing instead of constantly asking for the impossible. You can also easily set own hours, so check in and out whenever you want.
The bad of course is wages unless you're living in a country with a very low cost of living or you just want to use toptal to gain remote work experience and don't mind not being payed Silicon Valley standard then it's probably not worth it to you to work there being there's dozens of jobs on hnhiring threads and other sites that will pay at least 2-3x as much.
Doesn't seem like they are a 'top 3%' themselves honestly.