The solution is simple: refuse to do those interviews. I have, and I wish more engineers would. It's one of my screening questions: do you do whiteboard style quiz/brainteaser interviews? If the answer is affirmative, I politely (and sometimes impolitely) decline.
I've written a book, edited another, contributed to plenty of open source, including Golang, started a few companies, and been around the block. I'm more than happy with a take-home or with going over code I've previously written, but doing leetcode in a "live coding session"? I'm good, thanks.
For FAANG and other huge companies, it's probably a decent heuristic (though I doubt even that), but smaller startups or non-tech companies doing this nonsense is a clear red flag. I mean, there's entire books dedicated to gaming the software engineering interview. The signal-to-noise ratio is probably so terrible, it's essentially just professional hazing at this point.