Your interview process is a wreck, anyway. It optimizes for people who spend a month or two grinding leetcode and rehearsing their Leadership Principle stories.

If you think that this effort is demonstrative of their ability to translate needs into working code and then deliver it, I have a bridge to sell you.

I don't think it would be difficult for an experienced hiring manager to identify someone who's well-rehearsed but otherwise incapable and then hire that person specifically in order to fire him later.