I feel like algorithmic interviews are starting to be a red herring. When we are reaching a point that people need months of preparation and special interviewing bootcamps, we start to experience something akin to Goodhart's law. Correlation with real world skills get smaller and smaller, as people stop honing their "real world" skills and focus their energy on gaming the artificial metric.

Many companies are starting to value good github profile more than "how quickly are you going to implement the dijkstra algorithm on whiteboard". I believe this trend is better for candidates and companies, so it will continue.

I am speaking it from the point of someone fairly proficient in algorithmic challenges and algorithmic interviews (e.g. top 100 google code jam, worked/interned at 3 out of big 4).