While I can see your point, I am of the mindset that Computer Science is too vast to expect someone to memorize it all. Furthermore, it's not even a memory test its a form of hazing, to be honest. It has little indication of how well someone will do in a role as dynamic as software engineering. Im certain I could make you look like a fool in front of a whiteboard and im sure you could do the same to me. But have we actually proven anything about who is smarter or more capable? No. I look for people who know where to find the answer even if they don't know it off the top of their heads. At least that way I know I won't spend half my day answering their questions if I hirer them. The kids who spend their time in college depending on the book and the professor to hold their hands aren't the ones who succeed in the long term. It takes ingenuity and creativity for that. That's who I want on my team.