That's actually a very good point. Most CS education does not start with hardware so a lot of it does seem like mysticism at first.
I actually learned how computers work at that level (though in my 4th year of college) and I found it very interesting. However, I don't think it's necessary to know for most web development these days. It would be for more advanced computer science work, but most programmers don't work on products that require that kind of programming.