The fact that one can just ahead and cram for these problems should pretty much... severely downgrade, at least, their usefulness as hiring filters.
The question is, whether they serve as a particularly good filter.
It’s working as intended.
As long as that's how it's thought of - I can see the value.
I think people are in the habit that it does a lot more than that, though.
1. People who care about building good products, leading to good careers.
2. People who care about their career for the sake of their careers. This group tends to focus on office politics.
Therefore, caring enough about their career to cram has not a signal for how much they will care about building great products.