Did you forget the sarcasm tag? Algorithms and code in books will be the first things to be automated... you have to learn how to create the algorithm that you need, not to memorise algorithms...
Yes, the point is to create your own algorithms. It's hard to create something you don't know anything about or know how other people created them before you. Imagine this in another field, say an engineer who doesn't want to study how other bridges were designed because those aren't the bridges she's going to make. Eventually algorithm and data structure design will be automated and everyone will be programming in declarative English, but that's a lot more general intelligence than predicting your next line of code is a foreach. That's why I say learn computer science not programming languages because machines already speak programming languages.