I'd be curious to see if there is any value in questions that focus on understanding of the basic ideas behind algorithms and data structures as a subject. Time complexity, sure, but what I would really want to know is, given a description of a data structure and some algorithms for manipulating it, can you identify the invariants that should be true of these rules?

That sort of thing might give a better sense of if someone has an instinct for how to verify whether the code is working. And, by extension, if they have a grasp of some concepts that go a long way toward helping a person come up with more reliable and maintainable designs.