[matthewmacleod]

That requires plenty of knowledge, but algorithmic CS stuff isn't high on that list.

I'm not sure I agree – in my experience there is at least a direct correlation between 'knows about scalability, performance and maintainability' and 'knows about data structures and algorithms'. Maybe they aren't going to be able to tell you about the performance edge-cases of different sorts or whatever, but I'd probably still expect to see at least awareness of a difference existing.