Let's just say that it's at best a corner case in the the toolbox of approaches our brain has for tackling problems. Yes, it's something we make use of once in a while. But more like a "caught you in the hall, here's my idea" approach. Never in a "solve this now in 5 minutes or yer OUT!" sense.

The problem with the modern interview process is that not only elevates the later approach way out of proportion to its actual significance -- but basically makes in the centerpiece of your interactions with the company and potential team members, on that fateful day.