I mostly disagree. You won't need to implement them, but a working knowledge of the basics is the basis of any performance analysis and can make a huge difference in system performance in day to day programming. At some point all the small inefficiencies also add up.
I would go so far as to say that data structures and basic algorithms (e.g. Dijkstra) are more important to become a competent engineer than any of the practical tools he listed. It's like the difference between a mechanic and a mechanical engineer.
There is also a reason they are taught very early in a computer science degree.