Ofer, thanks for an insightful article. I've been a software developer for 47 years and I've been a hiring manager and an applicant more times than I can count.
As a hiring manager, I've never been comfortable with HR screening resumes for me and especially having them doing initial interviews. If I cannot effectively evaluate an applicant, I do not deserve to be a hiring manager.
As a candidate with many years of experience, I've always refused to take a right-out-of-school level coding test or canned technical home assignments. I won't work for an employer who isn't capable of evaluating me, my body of work, and my published articles.
I guess I'm lucky that I can afford to be choosy. I've worked hard to be good at my profession and, having been a CEO, VP, and individual contributor, I'm sceptical that general managers can optimally manage predominantly technical activities. That's why so many projects fail to meet budget and functional objectives.