Earlier quoted context omitted.
It's literally just some bizarre hazing ritual. Trying to evaluate whether code is good or bad from some screenshots without understanding the context and being familiar with the codebase makes no sense anyway. Anyone can show you ten screenshots of formally well written code and you have no idea whether it's useless or not.
I think the only reason is to figure out if people are working. Any dev I could think of doing their actual job can take 10 screenshots and point what they worked on in the last 6 months. It would be insane if they couldn't.
Including PEs and Sr.PEs? If they're coding, it's usually a detriment to the business unless they are extremely specialized and possess some blend of skills that allow them to take on tasking that cannot be delegated to others. I'm mostly talking about top companies where those titles are hard-earned and are associated with very broad impact.