I agree with you. However, learning the algorithms is different than preparing for technical interviews IMO.

I've learned many algorithms and implemented most of the ones I've learned, but if I haven't recently coded them repeatedly or studied them rigorously, I likely won't be able to code them up on the spot when asked to. But because I learned them in the past, I would be able to recognize which algorithm (from the ones I've learned) best suits the problem.

In rea world programming, those algorithms have very little practical use other than the "gee-whiz" factor.

If you understand algorithms in general, then I think thats enough. Its sort of like being able to play a single song on the guitar is great, but to have the skill to play any song is even better. On the same token, being able to write any algorithm is a much better skill than being able to write out a single algorithm.