I guess it depends how you use it. I started hearing about FizzBuzz in the context of "why can't programmers program" [1]. I.e. that many interview candidates can't solve this problem.
It's also my experience interviewing programmers (outside SF) that most candidates can't solve simple FizzBuzz style questions. As a take-home test, I agree I can't really see the value in it.
Back when I did phone screens, I went even simpler: Write a program that counts from one to ten, printing each number out followed by your name followed by a newline. Do not print the line for number 4.
It’s astounding how many programming candidates can’t work their way through this.
It's also my experience interviewing programmers (outside SF) that most candidates can't solve simple FizzBuzz style questions. As a take-home test, I agree I can't really see the value in it.
[1] https://blog.codinghorror.com/why-cant-programmers-program/