There's a world of difference between remember some bullshit trivia about how to do fast matrix multiplication, that requires some esoteric algorithmic or mathematical trick, and 'implement a data structure that does X'.
Yet, when blasting interviews, I have found that people tend to conflate the two.
I agree that 60 minutes on a whiteboard or a laptop is not the best way to ask someone to solve a coding problem. Homework is worse, though. Maybe 90 minutes is a better time slot.