From the perspective of someone who already has a job in the industry, I'm really not going to want to do more than one interview per week anyway.

This format also doesn't appear to want full days: it should be an hour or two Friday afternoon, plus a half of Monday. Two part-days isn't really that worse than a full day off (Mileage may obviously vary; particularly the mileage to get to the interview). The initial interview could also very easily be done remotely.

Even if it is a bit higher-impact, I would still prefer it simply for the greater quality of experience, and that's before throwing in the payment.