I recently had an interview at a taxi firm that followed this format.
One two three pre-interviews followed by a day of 5 grueling 1 hour interviews.
I didn't get the role. Apparently the frontend guy I had the first interview of the days five was concerned about my technical skills.
I mean, I find it insulting, having worked for the last 12+ years as a developer to be told that there were "concerns about your technical competency"
I hate interviews. I hate take home coding tests and have failed every single one I've had. Apparently this is a sign that I don't do well under pressure.
I've been building working software for years, and the main problem I have is convincing people that I can actually do the job. I don't have a degree, and I don't have prestigious companies on my CV, and I don't have the time or energy to chase around roles like this, so I have to settle for unfulfilling and underpaid roles