My take on it:

I think learning how to personaly type the algorithm, nowadays is a cool party trick, is really fun for the doer, and the observer. But the utility of that has diminished due to ai and agents.

However I think understanding algorithms is extremely important. Knowing why merge sort is faster than bubble sort. That visceral knowledge where you actually took a stack of papers and just sorted them with both algorithms and experienced the difference in speed.

The awareness of how algorithms perform I believe is super important. Having the feeling for that would give one the ability to better choose what to use, and the ability to make an strategic decision on what to use based on true understanding I think is really valuable nowadays.

algorithms are tools. like in any field every professional is supposed to be aware of "the basic standard tool set", what a good implemenation of a tool supposed to be like (i should be able to assess if a hammer is broken or good for use if i am civil engineer, or piano if i am a musician). it does not mean they should be able to "create that tool from scratch".

knowing the tools will only benefit you irrespective of your employer or other tools in town. (llm is also a tool, ides are tools, libraries are tools, design patterns is a tool)