I actually dread the day I choose to switch jobs and have to face another technical interview - considering that my knowledge of college-level CS has declined over time. It's not because I am less skilled now than I was before, it's because you don't have to constantly create fantastically fast algorithms on a daily basis (at least in my job!).
The skills that I have developed over the past 6 years - designing complex components that interact with other complex components in a hugely complex product, making improvements in the design of a 20 year old codebase, deciding between fixing a bug and compatibility etc., intuition about design choices and how they fit in the product, and yes, debugging (!) - none of these are covered in technical interviews these days.
Sure, I could explain how a b-tree works - but that's not going to help me resolve my next bug.