Earlier quoted context omitted.
Not exactly, but ageism is probably a welcome externality. The value of leetcode is mostly in helping hiring-people wash their hands of some responsibility.
Another externality - if not an intended effect - is that it selects for people who are willing to accept an abusive relationship with their employer. Why do I call it abusive? "Study this stuff, that isn't actually related to your job, on your own time, for free, for months, and we might give you a job." Even if you do get a job, they still abused you.
1. Gatekeeping "Do you have the credential for X from the system? If so first come first served for defined pay bracket.". While lower friction once done it is an informational organizing nightmare even before dealing with perverse incentives in who can work as what. Choice of credentials vs demand would still be an issue. 2. Defacto Corveé system of "You work at X and live at Y or else." Obvious issues with lack of freedom and inefficient use of human potential. 3. Agent Dynastic: Less formalized gatekeeping where the sales must be handled by an intermediary to seperate non-job relevant skills. If you can sell your own labor then it is just labor market capitalism essentially as the non-relevant skills are tautologically now job related.
I get how it sucks but I am not sure how to improve upon it without leading to the problems of the other approaches.