It was based on a similar story the one in OPs blogpost. At my first job I used to work with some really talented fresh grads that wanted to show off their algorithms skills and ended up over-engineering stuff.
One of them implemented a trie and stored it in SQL lite to implement some string autocomplete where the number of strings was something like 100.
The other implemented a 2D segment tree for doing some grid updates where the size of the grid was small. This inspired the first part of the meme. Segment trees and sqrt decomposition are topics that are popular at programming contests and nowhere else really.
Regarding the triple nested loop, I just wrote the simplest pseudocode that represents nested loops, not necessarily something a "senior" developer would write.
Nested for loops go brrrrrrrrrrrr, munching squares go bweep bweep bwweeeep bwweeeep bwweeeep bwweeeep bwwwweeeeeeep bwwwweeeeeeep bwwwweeeeeeep bwwwweeeeeeep bweep bweep bweep bweep...
Life goes shlup shlup shlup shlup shlup...
If they use any Don Martin sound effects, I hire them on the spot.
>CHK CHK CHA-GONK BRBBRBBRING! -- Man's Eyes Being Poked Like A Cash Registers' Keys And Jaw Popping Open Like A Till Drawer -- Mad #61, Mar 1961, Page 18 -- Kitzel's Department Store
Some companies like GAFAM probably put too large focus onto algorithmic questions, but they can afford to lose otherwise good engineers who are bad at algorithmic questions. They need something to filter the masses of applicants they receive.
Sorry for being harsh, I got triggered by that code inside the printer, because I've dealt with a lot of dumb "I don't know how SQL joins work, so I'll use my ORM to do it and filter the data in code" cases early in my career, and I have sort of an allergy to that now.