The advantage of leetcode is that you study once and then it applies for every job you interview for. Like democracy it's a horrible system except for all the others. Take home project? There goes 4-12 hours per company that gives you one and sometimes more. Companies have no incentive to cut it down or not give it to even marginal candidates so you'll get a lot more of them than full in-person interviews. Pair progr…
I personally when I interview candidates prefer to get to know them and how they think before I even try to understand their ability to problem solve. Knowing the language or algorithms are all easy to learn things. Knowing how to naturally be curious and solve problems is a far more difficult skill to learn and demonstrate, but it is easy to evaluate indirectly.