Now it gets much more fuzzy, but for the sake of the argument (after all why are we here? ;)) I'm willing to bet that there are lots of data science jobs that could be done well given a good knowledge of how to use deep learning and no understanding of how EM works.
I'm not saying that knowing fundamental (and/or difficult) topics is not useful - it absolutely is! It's just a matter of prioritizing what you learn about. I think if you want to maximize your impact, it makes sense to invest in learning the currently-most-promising tool before going for things with lower reward/effort ratio.