Most people don't seem to learn the neighbourhoods of the city outside of their own area. Even the most famous neighbourhoods like the Annex would stump many people from outside the downtown core though they're important to the city's character. No one learns this stuff except people who are good with geography and local neighbourhood residents.
With that said, people would learn if they had to think "Fairbank = Dufferin and Eglinton". It's a good way to promote neighbourhoods and business improvement areas. Ultimately, it also makes the city more interesting and valuable if people think of it as a group of functioning and varied neighbourhoods rather than random white space arranged on a grid of streets. But it would also be good to put the major street name on station signage
like on the University Line for people who don't often use the system.