You also don't need to know much about many algorithms to write workaday programs. Most of the work is done by others. /head nod to Timsort.

You need to know how to avoid common pitfalls (i.e., yeah, maybe nested for-loops with millions of elements per level of iteration, maybe some alarm bells should go off)

Advanced algorithm knowledge is not needed for developing typical business software.

Bad security is a disaster for any public-facing software projects. A product you didn't ship because you hired the wrong people can't be reverted, but neither can a data leak.

Or the company who goes bankrupt because you leaked highly sensitive data.

Etc. etc. ad nauseum.