Algebraic effects are similar to Common Lisp restart handlers, but in addition, they also receive the continuation of the invoker. This means, you can use algebraic effect handlers to implement higher-order control features like coroutines, probabilistic programming, and nondeterminism (which you can't in Common Lisp).

However, what most people get wrong: you do not need higher-order control if you just want to resume after an error. This is demonstrated by Common Lisp, which doesn't have coroutines, algebraic effects, nor continuations, but _can_ resume after an error.

The main example of the article could be done just fine in Common Lisp, because it doesn't use any higher-order control.