> For example a report that took over half an hour to generate, I made a one-line change and cut the time to a few minutes
In essentially all the work I've done in my career, this would be the result of expertise in SQL and the relational model, not in data structures and algorithms. I don't recall ever working on reporting code that isn't a dumb pipe between a SQL query and a mature library for writing CSV (or parquet or whatever). Sure, there are tons of data structures and algorithms on both the database server and client side, but that's not what I'm working on.
And I think this is pretty typical for people who mostly build "applications", that expertise in tools is more of a value-add than expertise in data structures and algorithms.
But having said that, I do agree with you that everyone benefits from these kinds of "fundamentals". Not just this, but also other fundamentals like computer hardware and systems, networking, etc. I think fundamentals are very useful, while also thinking that many people are good at their jobs without them.