It’s definitely possible. Mostly you’d want to learn your algorithms well in college and continue to exercise them in your work. The rest of the interview is a lot about how you present yourself, which is mostly along the lines of “work out the problems out loud and ask questions”.
Also, FWIW, I’ve had a decent amount of opportunities for creativity on Leetcode-style questions. When permitted I often pick the language that I feel would make the solution simpler or easier to understand. When doing things like linked list or graph traversal you’re often asked to define the datastructure you’ll be using, which is a good chance to use different types of polymorphism or algebraic datatypes that can make your task easier. Even if you’re just churning out for loops, a lot of them can be replaced with functional methods or selective application of interesting utilities such as array rotation.
Not my experience. When I interviewed at Google for a senior position, I mostly had difficult questions with little interaction with the interviewer.
Before my preparation, I could solve all the questions within let say a couple of hours and I knew very well all the algorithms. But that's not what's expected to pass. You're competing with people who have been working very hard on this style of interviews and you need to be among the best.
You're expected to find the answer to a couple of questions within a 40 min. That includes finding the solution, writing the code (not pseudo-code), testing your solution and discuss complexity.
Thinking 15min + sketching some pseudo code is not enough, or maybe for a particularly hard problem.
I think it's impossible to nail these interviews without minimal prep. It's very specific, and every candidates are well-prepared, many of them have done 500+ leetcode questions before interviewing.
Regarding the US universities, I'm not sure but I wonder if some students can somehow compensate a lack of academic mathematics excellence with extracurricular activities, or being rich or from a minority. Maybe companies want to filter those out?
As for creativity, leetcode interview questions is all about preparation. There's little creativity.