Not true. Success in leetcode interviews does not correlate with success or impact once in the job. The current methods have poor accuracy and poor recall. The only reason they are widely used is political gatekeeping. You need the ability to imagine failure or argue that you, the existing employee, are superior, in any interview you want, for political purposes, so the interview has to be complex enough to facilitate this.

Tricky / complex interviews are a sign of internal political arms race and peacocking, nothing else. Absolutely great candidates fail all the time. Absolutely terrible candidates pass all the time.