I disagree with you completely and absolutely. Your bridge in Boston isn't going to collapse the moment a researcher sitting in his bathtub in Tel Aviv has a eureka moment.
But if that eureka moment results in a preimage collision in a secure hashing algorithm, that hashing algorithm is broken for everyone all over the world forever. (Practically, as soon as the collision is public knowledge). Cryptographers have to actively seek out this information.
That's why MD5 is deprecated, even though the weakness is weaker than the one I've just stated. (It's just a chosen prefix collision that can be done today - a preimage [chosen hash] attack still takes nearly the full search space.)
Security is applied mathematics, the way engineering is applied physics. But the laws of physics don't change on an annual basis, or the way in which they change is too low-level to apply to engineering, whereas the laws of applied mathematics do.
Systems administrators have to keep up to date on an even more active basis, in some cases needing to patch any system within 48 hours of a public disclosure.
So I simply disagree that as an engineering endeavor implementation of cryptosystems is in any way similar to any other form of engineering.
In fact, for the particular example I used in the above case (a hash), the very existence of the operation is an open problem. ("The existence of such one-way functions is still an open conjecture", Wikipedia.)
What other branch of engineering relies on laws that may well be false?