The concept of a backstory episode is something of a cliche. Take one of two characters; cut in some scenes from the past that inform scenes set in the present, and show the contrast between who a person is now who they were along the way to becoming that person. It’s a fairly standard exercise, especially in genre television. But it’s a recurring trope because it’s effective.
To the point, it’s nice to know where Peggy Carter comes from. Hers was definitely the better of the two parallel stories told in “Smoke and Mirrors”, where the show contrasted the ways in which Whitney Frost tried to be something different and was taught to be something more traditional, and the ways in which Peggy Carter tried to be something traditional and was taught to be–true to her nature–something different.