I think it is a good thing. There is a big difference between doing well on a test and understanding the subject. You may think you know basic algebra because you can find the correct value for x, but chances are that you don't really know what you are doing. So having a refresher course telling you what you are actually doing when solving an equation, and how it fits in the big picture is valuable.
The thing is: when you relearn these basic subjects, you do it with a wider field of view. For example, when I first learned derivatives, I knew it had was about rate of change, and I knew the formulas, but I didn't quite get the relationship between slopes and derivatives. It came back later, as I was more familiar with things like linear interpolation and how to manipulate curves in general.