The only way this would be true is if being good at textbook CS makes you bad at solving other problems. The way the typical interview process works, basically

The only way this would be true is if being good at textbook CS makes you bad at solving other problems. The way the typical interview process works, basically, is "we have a list of 6-12 algorithms we will ask about; if you have memorized implementations of them, and certain key phrases to identify which one to regurgitate on command, you pass the interview". This is then touted as a test of "CS knowledge" and "problem-solving ability". Tech interviewing is Goodhart's law in action.