The company gets to spend 3+ hours finding out information about a candidate, but the candidate has little option to discover company culture for themselves. They can snoop around on LinkedIn but this doesn't answer much about culture unless there is someone who is prolifically producing content inside the company. There's glassdoor which might answer part of it but generally the reviews there are extremely shallow and biased by the skills, mindset, and treatment of whoever wrote the review.
So what's the answer? I think "ask targeted questions" is fine as long as it is not "ask 100 general questions". I haven't seen a single article on the meta of how to pick what questions to ask or how to get past shallow answers. I also think the entire industry is performing pretty terrible in this space and we don't have a good answer for how to handle it that is common or even well-known. This leads to lost candidates or (intentionally or unintentionally) catfished candidates who will leave after joining.