The project is simple. In 10 mins I can easily review the project. Are there tests? Is it well-composed? Does it run? Really doesnt take long for a simple project. Since every candidate gets the same project it is pretty easy to determine a good solution from a bad one.
> You don't know anything about them by reading this project.
You actually know quite a bit about them after a phone screen plus this project. If they cant come up with a decent solution to a small and simple project then they are not advanced in the process.