Same. If they insist on HackerRank, that tells me they hire based on solving logic puzzles and not building software and systems. Not a place I'm interested in

It depends how you use it.

I've used it to pre-screen candidates with very basic code questions. It filters out a lot of people who are either lying or just don't believe they will have to ever write any code.

This allows me to consider a much wider range of candidates outside top tier schools and employers.

That's fair, and not at all the way I've seen it used