Outright credentialism—of the right sort—would be so very much better than the FAANG tech interview, provided anyone could attempt to gain the credential through e.g. a one-off test maybe with refreshers every 5 or 10 years, without some required formal educational background. So, so much better.

It'd take a union to force FAANG into that, though, because it'd make job mobility much easier, so tend to increase wages.