Your profile says that you are a web application hacker. I think that explains why you may not feel that data structures or algorithms are important. I was the same way myself (started my programming life by building Perl cgi scripts, made a nice little cms, definitely didn't use any fancy stuff to do that).
You should take it from me though. You will suddenly develop a deep and profound appreciation for understanding algorithms when you have a problem that requires having to comb through over a hundred thousand records, perform some type of operation on them, and sort by the results of that operation - all within a fairly narrow time period.
I think that it actually is a question of problem domains. If you never encounter this type of problem, then not knowing about things like big o notation and the various sorting algorithms will never impact you. However, when you do, that knowledge quickly pays for the time invested in learning it.
You are right that there are lots of such problems. But there are also many others who can solve them too.
If you can outsource the problem and plug in a solution, that's great, but it's not always possible.
From your user name I guess you are a troll. But the best part is, there many people who really think that way. I think its the dominant view in the industry. For example at least some (and probably most) groups in redmond.
Meta-troll?
I'm sure that if you work at Google, where crunching big data is key; or in a company like Microsoft or Apple, where applications are much closer to the hardware; then these things do matter. But I propose that a major part of software development happens in a space where such things are irrelevant or at least very rarely relevant.
Regarding my outsourcing remark, let me clarify a bit. What I mean to say is that while the stuff that is close to the hardware might take skilled workers, it does not require cultural skills. For example, I would suggest that it's a lot easier to outsource a hardware driver than it is to outsource a workflow engine for an order process. For the latter, you need to be close to your users and you need to understand the business you're modeling.
Mind you, I think it's fine that we teach this stuff in universities - it's good background knowledge to have. But as a practical skill, I question its value. And in a job interview, I would suggest to test the skills that are actually needed in the relevant job.
Oh, and I didn't choose my name; My parents did. It's traditional and somewhat common name in Scandinavia. You're not the first to get that wrong though.