I think it’s more nuanced than that, and it really depends on the level of education.

Making kids memorise things also teaches them the process of learning a thing. Testing them on facts, dates, and formulas has value because it tests whether they’re able to learn those facts, dates, and formulas.

In high school maths, I had to learn formulas. When I was applying to university, the admissions test came with a formula booklet. It was assumed I knew how to learn formulas, they were testing whether I’d learned how to look up the correct formula, and apply it. They weren’t just testing my mathematical ability, they were simultaneously testing my reference skills. I only really appreciated that when I was much older.