Not that long ago, it was popular to complain that junior SWEs didn't really understand the algorithms, the data structures, and what was going on behind the scenes. The complaint was that they were just copy and pasting from internet searches until things sort of worked on their machine, but they couldn't recognize when an O(n^2) solution was going to work on their local n=10 test set but bring down the main website.
Now that knowledge of CS fundamentals has become valued in interviews, the pendulum has swung the opposite way. We have more free resources than ever before to practice and study CS fundamentals, algorithmic challenges, and even practice your interview skills. It's never been easier for a junior SWE to sit down, put in the effort, and work their way into a $200-300K job with sufficient dedication. Yet people never tire of complaining about Leetcode or having to understand CS fundamentals online.
Personally, I've never met anyone who was good at Leetcode yet produced bad code in production. I'm sure there's someone out there who knows a guy who knows a guy who can somehow ace Leetcode but can't write an efficient website backend, but it's not the norm.