However more important than the algorithm is just the media reporting on what ofqual actually say. I've barely read any of their actual analysis in news on the issue.
Key facts: students are always ranked and graded on a curve. Student populations have a fixed number of grades awarded every year, etc.
The system is specifically designed in recognition that grades are positional goods, ie., they are valuable only to the degree that other people do not have them.
That's the view of the education system every year. And its the basic assumption of this process. They will never over-award A grades specifically because they want universities/business/etc. to index them to a percentile performance in the population.