And how many candidates do you have to consider to find the right one? And what proportion of the interviewer's time is spent on the live coding interview vs setting it up and arranging it? I've been in this boat recently. It doesn't really take much to get to double or even triple digit hours if you don't automate something.
No, it's probably more like 4 1-hour interviews where they do whiteboard coding 2 - 4 times for 30 minutes and the rest of it discussing other previous experience, what they are looking, what the company's doing now and looking to do in the future, etc.