So you block off 4-8 hours of your life for this job you're really excited about. What is the employer putting up? Generally nothing. They get a sea of responses and they get to pick a few of the best ones. The 100 responses they got cost these candidates 400+ hours of time for no cost to the employer whatsoever.
Take home assignments are fine, but the employer needs to put up something as well. Either pay for the time I spend on it, or have the assignment late in the interviewing process and have employment contingent on passing some known bar ahead of time. That is, I should be the only one doing the assignment and there should be no wishy-washy rejections.