In fact, those parts of STL that can be improved significantly are available from other libraries and are widely used in the industry (like some parts of Boost, some hash tables, etc).
Nowadays C++ is mostly used in environments where efficiency is crucial, and this have been the case for many years already. If you take this away, C++ is wildly inferior to several languages.
C++ in practice has evolved a lot. With modern C++ programming style and techniques, it's actually usable and very practical. If you see code from the 90's though... it's a complete mess. All in all I think it's worth knowing inside out, like C (but they are very different languages and trying to use C++ in a C-ish way will only lead to a 90's style mess).