Counter take: After having worked for startups a lot, my CV did not really look very impressive. A couple of short-medium stints would not really instil a vast confidence to someone screening.

Algorithm and "Trick" Coding Questions allow me to prepare for companies I would normally never qualify for just based on my past experience. If Google only hired people who have touched Google scale systems, they might not have a lot of people to choose from.

Thanks to the current interview structure, I can spend some time and prepare for any large company regardless of the kind of work I have been exposed to so far.

Its definitely not a great process, and requires a lot of time investment to prepare but allows people from not so impressive backgrounds to get a fair(ish) shot.