The fun part of take-home assignments is that there's a moral hazard incentive to spend extra amounts of time on an assignment even if they say "only spend X amount of hours on it," even lying amount the amount of time spent if the interviewing company asks.
More than once I have completed a take-home assignment with emphasis on sticking in the timeframe they recommend but still solving the problem adequately, and then I get chewed out in the followup interview "why didn't you implement X?"
Relatedly, a massively open-ended take-home assignment is a bad take-home assignment since it favors those who have more free time to be thorough. (shoutout to the take-home data science assignments which ask for the final deliverable to be a PowerPoint presentation)