I agree with you, but the “algorithmic” just takes it to another level: instead of having a few channels targeted toward a bunch of groups, the targeting is at the individual level.
When the algorithm does it, it's just maximizing revenue, and there is no one to blame except the programmer that made the algorithm, who after all, just told the computer to do what the stockholders would want.
Ultimately optimizing anything solely to maximize profit is inhuman. We all have standards and values that we carry with us to work that go beyond just maximizing profit. Those are more difficult to encode in an algorithm. Without them though, the relationship of the user to the platform is exploitative. The platform does not care about the user except in a purely instrumental way. You are doing business with a psychopath.
There's a great book written on this - "The Righteous Mind: Why Good People Are Divided by Politics and Religion"