Yea, the problem with the high-stakes, high-pressure whiteboard-hazing interview is that it is not testing a candidate's problem solving ability. It's testing their comfort level and ability to navigate high-stakes presentation/communication pressure cookers. Which may be great if you're looking for an unflappable smooth talking PM who will be doing presentations to VPs, but probably not great if you are looking for an engineer to solve your software problems while chilling out in their Aeron chair.
That's my big problem (both as an interviewer and as an interviewee) with the current "best practices" in tech interviews. We're evaluating the wrong thing. This is how smooth talking, charismatic phonies breeze through and we find out in 6 months they can't code. Unfortunately by then, they've often gotten themselves promoted to Director.