All these encapsulated algorithms are really useful, until you need something slightly different and hit all kinds of leaky abstractions. Declarative languages are especially bad at this, since you have to sacrifice a chicken and wait for the right phase of the moon to get the automatic optimizer to produce the code that you actually indent to run.
I think reuse wins in the long term because there's a competitive market -- a thousand flowers bloom and the better things float to the top.
SQL, for instance, has benefitted from implementations that vary from Microsoft Access all the way to Oracle. Because of fierce competition, vendors (even open source projects) have had to raise their game.
The same is true for Java frameworks -- if you looked at frameworks like Struts back in 2002 one could come to the conclusion that frameworks were part of the problem, not the solution. Today you can find frameworks that fit your tastes, whatever they are.
