I've thought this same thing. I've done interviewing for a small shop inside a big co., and I managed to have about an 90% hit rate and a strong percentage of excellent talent without doing ANY of this bullshit. No leetcode, no 7 interviews. HR screen, tech discussion, senior manager interview, done. It's not that hard to hire great people if you have the slightest inkling of what you're doing and HR and corporate processes don't dramatically get in your way.