I admit I've been hired once from just a friendly chit-chat, but I can't see how this could be reliable. There are so many bullshitters in the industry, who, during character creation put all their skill points into Charisma. They are smooth talking, good looking, and have all those charming Ivy League mannerisms of an Investment Banker or Enterprise Sales person. And while they might not be able to be technically deep enough to fool an engineer interviewer, they will absolutely fool the director or VP who does the final screen and has the final say. These kinds of people flock to companies who don't do robust technical screens.
I can see your point about the bullshitters being able to fool a VP, but in that case they wouldn't be doing the coding interview anyway.
On the other side we're also seeing bullshitters that can ace any leetcode challenge, but not actually design anything of value or work well with others.
There's probably not a one-size fits all, but if you're going to do coding interview do them well and understand many don't do well in these types of interviews because they don't see the value, or feel that their other skills are being ignored.
