In other words, anybody, regardless of what university they went to or what courses they took out what advantages or disadvantages they had, can learn this stuff in a couple of months if they have what it takes for the role. And because the skills are so standardized, the process is pretty differently objective.
It's not expected that they'll actually use the specific skills in the job. But it shows they can learn skills of that type and then perform them at a high level in a stressful interview situation. Which is a great signal for whether they can learn the skills needed for the specific project they wind up on and perform in a high stakes deadline scenario.
I'm not defending the system, but I am saying there's a clear logic behind it.