Put another way, if someone has 10+ years of experience, in an ideal world there isn't much point in quizzing them on algorithms or giving them homework. They've done all of that before, passed, were promoted, etc. You can see that on their resume, and you can verify that with a few phonecalls.

Of course, in reality, you have to quiz everyone equally, and hire based on this objective metric, because even a whiff of non-objective hiring is dangerous.