I have issues with the leetcode hiring process. I think it is unfair to people with performance anxiety and that there is much more bias than people realize, in terms of the demographics of people making hiring decisions.
But I think this reverse circle jerk about FANG is so silly. Its super subjective, but having worked at a couple and having worked at a multitude of non-FANG organizations, it's hard to argue that people there are not pretty impressive. You could say this about any elite institution. Who is to say that Harvard is getting the best?
As far as the overpaying, FANG companies are not even the highest paying. And moreover, they pay a salary that is a function of a market and the value generated by employees. Are NBA players overpaid?
I'll probably get a little downvoted for being a bit defensive, but I really think the backlash is getting a bit out of hand. Yes, large tech companies are not the end all be all. Yes, you often wont work on the coolest thing. But compared to the work that 99.9% of people on the planet have to do every day, it's pretty spectacular.