Hyperscanning, which enables the recording of brain activity from multiple individuals simultaneously, has been increasingly used to investigate the neuropsychological processes underpinning social interaction. Previous hyperscanning research has primarily focused on interbrain synchrony, demonstrating an enhanced alignment of brain waves across individuals during social interaction. However, using EEG hyperscanning simulations, we here show that interbrain synchrony has low sensitivity to information alignment across people. Surprisingly, interbrain synchrony remains largely unchanged despite manipulating whether two individuals are seeing same or different things at the same time. Furthermore, we show that hyperscanning recordings do contain indices of interpersonal information alignment and that they can be captured using representational analyses. These findings highlight major limitations of current hyperscanning research and offer a promising alternative for investigating interactive minds.