I know the allure of a big paycheck is too much for most people, but why are ok with going through these ridiculous circus acts just for the "privileged" of working for Big N?
Cause having a lot of money changes your life and it's not worth giving that up for a bit of pride.
Also working for "Big N" could give you access to very interesting projects, either while you work there or after you leave, since brands do matter and your CV will be more attractive to other companies.
Maybe. The people I know who leave the big companies almost always do so because the work ends up becoming somewhat wrote -- there is a lot of boring infrastructure to be maintained at big tech company du jour.
Either you accept that it's the industry standard and the gateway to a big paycheck and a prestigious CV, or you don't participate.
I just gave up on getting hired at any tech company that uses whiteboard interviewing. It seems like, just as in college where there's always that one kid who aces every test and wrecks the curve for everyone else, in any candidate pool there is always one demigod of algorithms (and it isn't you, you're merely great) that spends every waking hour of his/her life on hackerrank and topcoder.
Whatever, I spend my time on side projects, learning new things, family, and the occasional bit of fun and relaxation. And I still manage to stay employed (so far).