Good for you. If you want to work at the circus, you've gotta jump through some hoops. It's true that for most jobs, most day-to-day work doesn't involve knowing standard algorithms and data structures. But being willing to crack open a book and learn something new shows you're willing to prepare when it counts, and that you're capable of learning. Plus you get to learn some cool things along the way, some of which may even be useful some day!
Or it shows a lack of critical thinking.
Accepted criticism. At times I wonder if it's worth it or not but I think the preparation is warranted considering how I have to just kind of commit to this whole thing if I play on moving cross country with my fiancee.
I myself have been working through cracking the coding interview in an attempt to migrate from upstate new york to the bay area. Maybe I wouldn't bother with positions that demanded white boarding if I already had a position over there and could be selective but maybe not. It kind of feels like it's all part of the game at this point.