The day after doing 3 LC Easy-Medium problems on HireVue (which I hate with a passion, but for this it was pretty much just for coding, no video or audio, just typing) I got an email saying they wanted to fly me out to interview. I'm pretty sure I got one of the problems wrong, and I didn't spend too much time on it, so I was surprised.
The experience was fantastic. I flew to their HQ and they paid for a very nice hotel along with a bunch of other candidates for different roles and we had a candidate dinner, toured around in the buildings at their HQ, and had three interviews and watched some presentations. The interviews were all very casual, and no algorithmy technical questions were asked. You're being interviewed by managers whose team you might be placed on, so I believe they are trying to make sure you're a person that they would want to work with.
My overall impression is that most of the "selection" is at the resume level, and unless you don't even reasonably try the coding challenge or are a jerk or something in interviewing you'll probably get get an offer. Thus, my advice would be that if you do get the coding challenge, spend a bit of time making an attempt, and assuming you're flown out, focus on appearing a confident, competent, and friendly person to work with. Nervousness, not lack of technical preparation, is your greatest enemy; do practice behavioral interviews and have lots of "stories" prepared.
I was extremely impressed and had a fun time. I know I would have had fun working as an intern, and in the future I'll definitely consider applying for full time.