If you are doing well at a company, I am not sure how you make this seem like a good value proposition, especially in this tech job market. Another way to put it, with a personal spin- I don't work at an actual FANG, but a company that arguably pays better, and their would have to be a very large upside at the other end of this process to make it worth going through. Things would have to be very bad for me to give me up my deep in the six figure job to spend a month interviewing at some place unless it had some legendary track record.
This is all theoretical though and not really worth arguing over. I'd like to see OP try this out and report back the results, good or bad. I could be wrong, but I would be willing to wager that you get a lot more resumes just out of a bootcamp as opposed to people with proven track records currently at prestigious companies.
Must be looking to get out for some reason. Doing a small side-project shouldn't be a big impediment.
> I would avoid ever getting myself put into that position.
Extreme risk-averse behavior can cause problems on the other side. Easy enough to give a small-project a try and cut out early when red-flags are actually encountered.
Just the cost of doing business, IMHO.