I have my masters in computer science and work on the Linux kernel at a company you know for a product that you know. I often miss the point of leetcode questions and lose points because I don't use some certain tricky thing that they specifically want me to study for before the interview. I personally think it's just a handy way to build ageism into the interview process, because it's all this academic-style stuff that I've used maybe twice since I graduated 5 years ago. And for people like you, you've probably only really heard about these things in passing because they're not part of most people's workflow.
Kind of like applying for a job restoring Native American artifacts and being asked tricky questions about artifacts discovered in Egypt 5 years ago. Sure, you might have noticed the story or even read a lot about it 5 years ago, but it's not going to be a part of your daily work. Different procedures, different materials, and different local laws? I guess you should get studying if you want this job! And really, I just wanted to see your problem solving style when I ask irrelevant questions!
But ya, I think it's fair to say that my degree helps me not take that sort of thing as a rejection of my intelligence or qualifications though. I don't feel lesser than. I just feel belittled by someone who doesn't put effort into their interviews, which is useful information if you're considering working with them.