I don’t think algorithms are categorically a problem if done responsibly but I have to say Bluesky’s feeds don’t really seem like anything that we could not mostly have on the fediverse right now via bots (#icymibot is a type of bot similar to this).
Of course there is probably UX value in having them built in to the interface in a way similar to hashtags and maybe Mastodon or some other project could do that at some point.