The problem with this theory is that I have met a ton of engineers who really have a lot of their identity wrapped up in how well they did on leetcode interviews [mostly by memorizing enough of them to pattern match] and heap scorn on candidates who don't do well on them as if they are subhumans.

The ego and status jockeying appeal of leetcode is very, very high and a lot of engineers just eat it up.

I think discussions of this topic which ignore the fact that there is a substantial population in our industry who fall into this trap are basically flawed.