I think there are two valid approaches here, depending on the project. One project I'm currently involved with has a team of content/design people who work on Django templates - giving them more power with a template engine like Jinja2 or Mako would introduce nightmares.
On the other hand, when I'm building my own applications the Django template engine seems ridiculously bureaucratic, when I just want to drop in a Python function without reams of template tag boilerplate. That's one of the main reasons why I prefer Flask/Jinja2 for my side-projects (well that, and SQLAlchemy).