The algorithm can exist, but to run it at scale requires buildings and large teams and bank accounts and therefore the companies that use these algorithms are susceptible to regulation.
Otherwise it seems like an enormous waste of talent and resources playing cat and mouse, when we can just give them guidelines and fairly often they'll be followed.
Of course bad actors can exist, but that's not a reason to give up on social solution to problems.
There is no "rollback" for the existence of algorithms.
Instead of whining (problems without solutions) spend some time contemplating what a sufficient algorithmic solution looks like.
To be clear, that would be an algorithmic solution that "fights back" against issues like these (and not simply improving a failing solution).
That may not be a competing product. Maybe it's an algorithmic whistleblower?