I HATE project interviews, because their skills aren't transferable to the next interview. Take home projects also tend to "go-over", because you want to put your best foot forward and you're betting that the other people they interview are also going to exceed time.
I also dislike those because I’ve already got a full time engineering job and a family and don’t have time to put 4-5 hours each into every 3-hour project the interviewers ask for. But 5 years ago I did.
I’ve concluded there really isn’t a single way to interview that checks all the boxes, and if you’re running the interview process you have to pay the costs somewhere, unfortunately.
IMHO, there is some risk of violating NDAs. For the most part companies don't care if you share how their tech stack works, but I get nervous about revealing IP.