And if you did happen to hire one of those people, it should be pretty easy to figure out that they aren’t producing any actual output fairly quickly. Then you fire them.
If 1/100 people are (and in my experience and the person I was replying to it is significantly less than that) you’ve wasted less than a half hour per candidate.
You’re not wasting 40 hours on the 99% who aren’t frauds.
But yes, for senior candidates, I'm doing a lot less coding and a lot more design and architecture, because that should be what they can offer differentiated from their less experienced peers. And I'm also going to be looking for their interviewing skills and philosophy, because they will probably end up doing more of the interviewing and thus team-building, not to mention the culture they set by all the juniors looking up to them.