> I find it as a reminder of my fungibility as an engineer: I get paid absurd sums because of supply and demand, not because of my skills; anybody who can game the leetcode exam (and the architectural diagram quiz and the personality quiz) can walk in and take the same 300k income I have. If enough people do so, wages could be pushed down by employers.

Entry is one part of the puzzle. The actual skill bit hopefully comes into play after you get in, at which point your skill(s) improve your chances to survive / thrive at these companies.