But, having interviewed at a number of other companies in Silicon Valley, you aren't wrong. Most companies optimize on the FAANG dimensions and it's not particularly accessible for anyone who hasn't spent months grinding on those challenges. Not a good way to hire, imo.
not sure which one sucks less.
Shit, I don't love it either, but it's entirely possible the answer to "how do we fix tech diversity?" is "more credentialism". "Do these things and you'll absolutely be able to get jobs at the level you've already proven you're qualified for, with a normal interview process" might be more appealing to a broader set of candidates than "after putting in all the work to get good, also survive a full day of hazing-whiteboarding and if you get really lucky we'll hire you, if not better luck next time, sometimes it takes several tries to pass even for good candidates. Oh and you'll have to do it again every time you switch jobs, which by the way you'll have to do constantly if you like meaningful raises."
This leads to implicit discrimination against anyone who doesn't spend months grinding for these "exams", with the same distribution of "grades" across races/ethnicities/genders as e.g. math tests in schools.