Please don't cross into personal attack, no matter how wrong's interview preparation strategy is or you feel it is. Perhaps you don't feel you owe them better, but you owe this community better if you're participating here.

https://news.ycombinator.com/newsguidelines.html

Can I have some of that ‘work through tens or hundreds of coding problems that are of no future relevance to me’ dishonesty and cynicism?

It filters out the frauds.

Fraud on resumes is very common.

This is a great way to start off a business relationship with a company that wants to haze you to get you to prove your desire to work there.