The process was very classic, with an HR screening, then hiring manager who will like to challenge you to see if you can enter their vision of product discovery. If you have a different one, you will be implied that it's not ideal. Then very classic case study. But your answers will be judged and compared to what people currently in the company are doing. Were we supposed to know the company and its specificities better than them in a few hours ? Seems like it. Cherry on the top, they will use it as an excuse to lower your salary expectation and offer you a lower salary and title, to "avoid frustrating people already in the company". If you can't afford to pay a normal salary, don't fake your job desc to lure in candidates. Big red flag in my opinion, what an ideal way to take advantage of people job hunting.

A new company that wants to give feedback to all candidates. The problem is, they don´t transmit the real issue and candidate has to assume why he wasn´t choosen. Other than that, the process is straight forward and like almost all product management processes, you need to work on a case and present it.