I think that this kind of approach is going to get us pretty far -- see how far we got on building bridges with no more sophisticated insight in to gravity than "things fall down; some things are heavy" or material science than "some things hard and not bend" -- but I think that ultimately, our longer term goals like AGI will require that we build theoretical models capable of explaining our current engineering progress and predict a new, deeper valley of progress to move to.
Of course, that's a lot like saying making progress on physics paradigms requires explaining high temperature superconductors (or other currently open problems). It's actually pretty normal for a field to be a mix of engineers being ahead and theorists being ahead.
Mathematical rigor is really a sign that you're in established territory and explorers have moved on, and much of data science is still under heavy exploration.
edit: what i would love to see is a "category theory" for programming languages / paradigms such that moving between them is well defined. it boggles my mind that translating between two programming languages isn't trivial. if both are well defined, one should be able to translate one to the other precisely given one is willing to define the translations. there should be zero guess work or heuristics in the process.
How does machine translation do at poetry, in the sense of capturing the figurative meaning and stylistic elements, not just the literal meaning of the tokens?
One thing I am constantly frustrated by is the lack of mathematical rigor that pervade DS tools, and programming in general. Seems like everyone is happy to be given some programmatic tool and all the mistakes that where programmed into it. "You just need to deal with that." "You'll get used to the syntax." Yeah, but, I'd rather not, since it's often completely arbitrary and specific to a given tool. And, well, sometimes just doesn't make sense in the way something that has mathematical rigor built in might.
But, I often feel when I bring this issue up I'm shouting down an empty hallway.