The goal of our process is to identify which areas of strengths and weakness an engineer has. We do have a section where we ask algorithm and data structure questions to test academic/textbook CS knowledge but we also have sections testing very different skills e.g. practical web programming, debugging and low level systems.
We've helped many engineers who didn't perform well in the algorithm/data structure section still find jobs at great companies because we work with many companyies who don't care about those skills (as evidenced by not evaluating it during their interview). This is one of the main ways we can help engineers have a better job search process, if textbook CS knowledge is not your strength we won't match you with companies who evaluate that during their interview.