Only to bad interviewees.
You'd be shocked to hear the number of impressive résumés I have seen who turned out to be absolute no-hires after 20mn on a white board. By "absolute no hire", I mean the kind where some of the interviewers tell me in the debriefing "I will quit if we hire this guy".
Not all excellent engineers have impressive résumés but they all share a common characteristic in my experience: they all really enjoyed working on the problems I asked them to solve on the white board. I even had some of them be disappointed when we ran out of time because we were having interesting conversations about the problem.