IMO, what's relevant for a role is the skill set most people currently doing that role have and that's not always a good thing.
I've been the first shouting on top of a roof that we shouldn't ask people to know stupid little algorithm trivias to get a job. But the narative for that quickly devolved to "data structures and algorithms are not important for day to day work". To which I honestly say bullshit. The industry is managing without it: between people who forgot everything from school, bootcamps, self taughts, and people with alternate degree, people who can do actual computer science on the job are a tiny, tiny minority. So the solutions those people come up with to day to day problems are considered a speciality (eg: "machine learning!", "data science!").
But if doing that shit was just second nature to everyone, how would it change the way we do things? What if category theory wasn't so scary? What if people weren't scared of threads? What if hashmaps were not magical black boxes people use because the person who wrote the code before them did?
The foundation is becoming pretty darn weak if you ask me.
I totally agree shit like HackerRank is poorly done. But I'm not sold that the skillset it tries to assess (poorly!) is that useless. We, as a community and an industry, essentially did everything we could to MAKE IT useless. That's different I think.