To be fair, Leetcode was never a good indicator of developer skills, though primarily because of the time pressure and the restrictive format that dings you for asking questions about the problem.
Speaking of Leetcode... is anyone selling a service to boost Leetcode scores using AI yet? It seems like that's fairly low hanging fruit at this point.
Based on their demos, HackerRank is doing this as part of their existing products. Which makes sense since prompt engineering will soon become a minimum requirement for devs of any experience level.