You want stuff to be discovered. An algorithm is designed to make sure stuff gets recommended to the right people. Of course because every single fundamental part of this process is literally subjective - the algorithm is flawed by definition.
The more on the algorithm side you go, the less people get to choose what they want to see. If you use any popularity-based metric, you are poisoning your algorithm into effectively being an elaborate "Sort by Most Popular" wastebin.
The less on the algorithm side you go however, the less discoverability happens. This is where you start needing tools for networking, for example tags - because without them, everyone will just stay stagnant and depending on sharing functionality instead.
The problem is that the algorithm is - essentially - a terrible solution to the discoverability issue. In terms of greed, the algorithm beats all since it's proven to work for trapping people in their grasp, meaning more money. In terms of pure function, it's a mess - but it works, it lends discoverability to things. For content, this is vital.
Without an algorithm, all you have is an incomprehensibly large catalogue of everything that is unpleasant if not impossible to trudge through in order to find what you actually care about. For social platforms this is fine - because you almost never actively try to find content, it's people. People aren't content - and shouldn't be treated as such.
As a result, I'd say that SOCIAL MEDIA should have no algorithms, but CONTENT platforms should have some kind of algorithm.
Content platforms are for blowing up. Social media is for socialising. Trying to fit an algorithm into a social media will always hurt the socialising part and send it back to a game of content.