In the year 2023 tech companies are not "buying" (supply > demand) but "selling" (supply < demand); that means the hiring process should at least be equal in terms of time spent on it. Candidates spend way more time in home assignments (hours to days), while companies spend in the order of minutes to review the assigments. We think this is "normal" because "the company is OFFERING you a job"... that couldn't be less true nowadays, it is "me the one CONSIDERING working for your company". A big difference.
Well in my case, this code review was only two pages and it was only given to people who accepted an interview. So you had about a fifty percent chance of landing the job. Contrast this to the leet code dedication of a couple of years on the side effort...
Considering all the layoffs, the closed positions, and job listings suddenly skewing heavily towards "staff" engineers, we are in a buyers' market (ie. the employers have all the leverage right now).