You are often weeding through a large number of applicants, so spending 100 hours on each candidate is just not feasible, and, generally, not necessary. Plus, high quality, experienced developers are not going to want to spend 100+ hours doing real work for companies just to see if they can get a job.

I'm more than happy to spend an hour here or there for a phone screen or coding test to show that I understand the basics of data structures and algorithms and that I can use that information and my reasoning ability to solve problems I haven't seen before.