As a counter balance to that though, interviewers need to understand what they are hiring for and tailor the questions asked to those requirements.

This does not happen. At all.

Back in reality we have recruiters who can't even spell the name of the teck stacks they are hiring for as a precondition, and asking for impossible qualifications such as years of experience in tech stacks that were released only a few months ago.

From my personal experience, cultural fit and prior experience are far more critical hiring factors, and experience in tech stacks are only relevant in terms of dictating how fast someone can onboard onto a project.

Furthermore, engineering is all about solving problems that you never met before. Experience is important, but you don't assess that with leetcode or trivia questions.