It's really hard to tell if the company was "wrong" here based on the available information. I'm tempted to say the company is, because I certainly have personal experience with companies that do shitty things during interviews, but I'm not so sure the presentation is an automatic indicator of that.

It's possible that the presentation was not meant to be a burden at all. I've done similar interview presentations in the past, and it only took me 2-3 hours to prepare for it because my job experience is in a field where giving hour-long presentations with only a day's notice is commonplace. 2-3 hours preparation is annoying, but it's about what I expect to spend preparing for any interview. If OP was interviewing for a Solutions Engineer or Consultant role, for example, then asking for a 1 hour presentation isn't that unreasonable and it's likely that the company would expect OP to be able to prepare for that without it being a burden.

OTOH, if it was for a software engineer role and they were requiring a presentation even though it has nothing to do with the job function, then yea that's absurd. But which is it? I can't tell from the OP.