You don't ask an electrical engineer to layout a complicated PCB on a whiteboard, you don't have a civil engineer build a bridge out of popsicle sticks.
Surely hiring an incompetent electrical engineer is just as bad as hiring an incompetent software engineer, but from talking to the EEs I know, they just get asked basic questions or go over past projects--nothing nearly as stressful as a coding interview.
If other industries can get by without them, whiteboard technical interviews must not be as necessary as they're made out to be. It seems to me they are just a damaging fad. I think the high stress technical interview could even be one of the factors contributing to the software monoculture.