Work impact is debatable as well. Often, you're fully replaceable, you're a minuscule cog, your work never sees the light of day. And if it does, it's fiddling a knob, or may not have a positive impact on the world, depending on your worldview. Can't argue if that it's good if you're looking to pump net worth though.
Anyways, for FAANG, it's just gaming the interview process. Your experience and skills won't matter as much as getting through their demeaning LeetCode gauntlet.