These companies make bank from both sides (the person interviewing who is cramming on their material, and the employer), and leave out important things like how well you work with teams, how fast you adapt to new frameworks, or how maintainable your code base is.
I guess it is no surprise that another of their "featured" blog posts talks in extremely glowing terms about someone for coding for 24 hours without any sleep. (http://blog.hackerrank.com/recap-how-mimino-solved-78-projec...).