One thing these types of interviews do though is select for people who put in the time and effort to learn/relearn/apply these algorithms. Perhaps that correlates with other desirable traits
You can argue that crappy code academy schools don't teach right, but personally even the most average college will have a decent curriculum into CS fundamentals.
It is on you to make a use to it. I personally learned most practical things by myself, but college gave me a huge jump start into the fundamentals. What you do with them is up to you.
It might be a bigger investment, but has a higher median return.
It may be a week for you, but is that indicative of the average experience? It's kind of like how all the silicon valley people on here post their massive salaries as if it was normal. Many of us in other areas don't even have access to those high paying job opportunities. So what's the point of studying for something that isn't even available in that locale.
I'm stuck in my job like you mention. But this sticking also prevents me from changing jobs within the industry.