I failed one of those take-home projects (got about 1/3 of it in probably 3x the time) but felt it was a pretty good experience because it got me to try a kind of coding I'd always been interested in but never did.
I was asked a while back to do a 4–6 hour take-home project. I would have told them where to stick their 4–6 hour project, except it involved writing a Flask server, and I wanted to learn how to write a Flask server.
I wasn't offered the job, but I regret nothing.