You use the word "pressure" indiscriminately. The pressure of working under scrutiny is completely unrelated to the pressure of meeting a tight deadline; if I had a job where the manager stood behind me and watched I would quit in less than a week. You may as well be talking about hyperbaric chambers.
Interviewers still ask algorithmic questions. It's very rare for most of us to work at so low a level; when I have to write an algorithm it is the work of hours or days and usually away from the computer entirely, not on the spot. I haven't worked with a linked list in 20 years and the only time I've worked with binary trees is in interviews.
When I'm the interviewer I talk about approaches to problem solving and performing tasks; the ones, and they are the majority, who only express eagerness to conform to team "standards" aren't getting an up-thumb. I'm looking for people who think about their work, and they are few.