In the real world you usually want to extend datatypes and provide new implementations without recompiling let alone rewriting old code (The so called expression problem). This is the raison d'être of complex DI and IoC enterprise patterns and various monkey patching techniques.
I am not sure how flexible the effect approach is. It took decades before static typing became painless enough for rapid agile development. Properly typed DI with safeguards sounds wonderful, but can algebraic effects actually deliver that?
But I see the need to change the code as a good thing when it is necessary: I don't want a dependency, inside or outside my codebase, to suddenly add network calls without me knowing it. Same goes for code that was pure and has become stateful. Not knowing this kind of fundamental change is a recipe for a nightmare.
It should be especially apparent with the recent supply chain attacks.