This is true of most domain. The jargon often gives the impression things are really complicated, but often time it's just that you don't know the domain language. Even with math, 60% of the challenge is remembering the notation and substituting it in your head with the real construct.
Now, as you get into advanced topics of any field, you'll start to find difficult concepts, but 90% of the time, the foundation just appears hard because of the language you don't know.
Also, keep in mind Machine Learning is not "Machine Figuring out an equation to solve a specific problem based on some example data”. Machine Learning is a subset of AI which focuses on teaching the computer how to perform a task without explicitly programming the task execution logic. Currently, the known practical technique of doing so can be described as "Machine Figuring out an equation to solve a specific problem based on some example data”. This might not be true in the future, as better ML techniques are researched and discovered.
Also, it's good to keep in mind ML is a software engineer discipline, and data scientist just benefit from modern software, the same way Excel created jobs, this technique of ML created jobs. In the future, different ML techniques might create more jobs or replace the current ones. This puts the data science field at the mercy of ML research. Already I think it's been hard to keep up as a data scientist, since ML research is being financed greatly and advanced quickly.