Between everything I've read about it and my own experiences, I get the sense that Google's interview process is by design a mirror of grad school. If you aren't willing to spend weeks to months prepping for the test so you can impress a committee (that you will hear from three months later), you just don't want it enough.

I'm not sure this is a great way to hire engineers, but at the same time I'm sure it feels pretty familiar to people fresh from grad school.