I presume, after passing the gatekeepers, most of the people can hold and do the job required from them at bare minimum. The fakers who can not code at all will be found, but someone with an average amount of talent should be able to collect the fat paycheck for several years, as most of the jobs do not require much anyways.
Well, I guess this is really just a version of what I'm saying, about being feeling entitled but thwarted by forces outside one's control
"I'm a good coder, why do the expect me to 'grind on leetcode' and know how to invert a binary tree"
I agree largely, but if that's what they want and you don't want to do it, don't apply. Justifying cheating because of your perception isn't right
People are doing this, because probably, they think it does work. They probably passed some interviews like this before and landed on their job, which is just mundane configuration update tasks, or just making a new integration with a new data source, and realized that there isn't a connection on what is expected on the interviews and what is expected on their daily jobs.
Maybe we should be looking at the core cause instead, the interview processes being not aligned with the daily jobs.