[algorithms are] rarely relevant for typical enterprise software development

I'm not so certain about that. I've seen a number of cases where people working on classic 'enterprise' systems struggled for a long time trying to solve problems that could have been neatly resolved using something that is considered 'theory' (like a dynamic programming solution, Lamport's vector clocks, or A* search) and after much trial and error ended up coming up with a ad hoc approach that mostly didn't blow up. If it's purely a web frontend to a database, sure, there isn't that much algorithmic complexity (that hasn't been implemented for you already), but usually there is more to it than that, and having the ability to look at a specific problem and say "You know what this is really an instance of (some already solved problem)" can be very valuable in programming (as in any other field of endeavor).