This seems related to Goodhart's law: "When a measure becomes a target, it ceases to be a good measure."
If the hiring process for some tech companies has become so dysfunctional that they actually consider brain teaser coding questions to be meaningful then we should expect that competitors with more results oriented hiring processes will eventually beat them in the market.
Anyone who buys a Macbook Pro today, before they're updated in the fall, will be able to use it for the next 3 years without issue. My Macbook Air was purchased in 2012 and is still fast enough that I probably won't replace it for another 2 years. People keep their computers longer now because they're fast enough. This has been true for the PC industry for at least 5 years now and it's why sales have been declining since they peaked in 2011 [1]. The year over year changes from Intel/AMD are incremental and I suspect Apple has decided they're not going to buy every iteration. It's even less important to get every chip now that Intel has stretched their development cycle from Tick-Tock to Process-Architecture-Optimization [2].
If the hiring process for some tech companies has become so dysfunctional that they actually consider brain teaser coding questions to be meaningful then we should expect that competitors with more results oriented hiring processes will eventually beat them in the market.