I did a couple of 100-level maths papers at university, along with some various independent bits of learning. Haven't used that sort of algebra in a wee while, but didn't take me that long to get the hang of most of it. Don't think I would have got Excellence, but would pass easily.
Most of the questions are reasonably straightforward but do require a bit of comprehension. There are some questions that look harder than they actually are, as well - such as the ball flight question, and there are some questions that are super open-ended (hugely annoying but I can see why they are there) such as the "what does this tell us about x?". It's possibly a little heavy for Year 11, and the really tough questions are IMO legitimately tough for Y11, but there's enough low hanging fruit in there for people to pass the thing.
My Year 13 year was the first year of the NZ Scholarship exams, and we had a situation where the STEM subject exams for NZScholarship were much harder than the non-stem based on percentage of scholarships given. It caused a bit of a furore and resulted in NZQA adding an additional certificate for people who didn't pass NZ Scholarship, but got a high number of excellence credits in the subjects. I see a lot of comments around scaling and grading - which is unfortunately quite a bit harder with NCEA than it is with simple percentage correct exams - you have to have a look at the marking criteria for each of the grades.
Two of the best mathematics students I knew at high school walked out early from the NZ Scholarship calculus exams completely demoralised. They both failed. One is now an accountant, and one has a PhD in maths. I understand the claims that it's unfair - because those students missed out on scholarship grants because the exam was too hard - but this is Year 11. You're not getting scholarships or university entry at Y11.