I have passed these interviews. Had offers from multiple FAANGs, worked at G. The algorithms interview is idiotic. It is a way for them to gate the jobs to people who have CS degrees while being able to say they do not require CS degrees.

I rarely come to the to the optimal solution on my own for a leetcode problem. It is about learning the techniques so you know how to speak about the solutions, then basically learning (by reading) the right answers to different problem types.

This isn't from being hurt, I pass these interviews. I've worked there. It is a horrible selection criteria for what you actually do at the jobs - design docs, meetings, tickets, tests, and code reviews. It creates a ton of false expectations too, you do not need to know advanced algorithms to work on some internal user interface, close maintenance tickets, or to write 10 lines of test code for a 2 line change. You get in there and realize none of the work you are doing is as clever as the interview.

The tasks described above are the reality of working in a large organization. They shouldn't be, but they are. The interview should more closely match that.