I've spent a lot of time learning algorithms, and learning that certain ones exist, without learning their precise details (for future use). They have never got used. Maybe I used a bloom filter once.
It's had some value in knowing when a certain algorithm is inappropriate, but otherwise it's been a massive waste. Surely things can be better than this?
Jobs bleat for "creative, intelligent people with a knowledge of algos + data structures", so why won't you use this?