As I understand it, the hardware very much lags behind the algorithms. We have plenty of cool algorithms to run on quantum computers, but to be practically interesting they all need more qubits or better coherence times than is available today.
In fact, this is analogous to the original motivation for the development of classical supercomputers, physicists wanted to run expensive non-perturbation Lattice QCD calculations, so they co-designed some of the earliest supercomputer architectures.