Getting to the next interview stage is not 'getting something back' according to his criteria - at that stage he doesn't know if he wants to progress, and doing a test doesn't provide more information. It gives the company information on whether it wants to progress, but not the candidate.
Also, refreshing memory on coding tests is not exactly getting a lot back. You don't need to do an interview to do a coding test, if that's your fetish.
Not that I completely agree with the guy. I don't mind coding tests or assignments, except when I have no idea whether or not I actually want to work at a company when they give me one. So, in that case, unless I'm really bored or feeling especially unemployed, I don't put a lot of effort in. I do understand why companies do them, and the company I work for does.