This is a very strong argument. Certainly all the ingredients to replicate a mind must exist within our physical reality.
But does an algorithm running on a computer have access to all the physics required?
For example, there are known physical phenomena, such as quantum entanglement, that are not possible to emulate with classical physics. How do we know our brains are not exploiting these, and possibly even yet unknown, physical phenomena?
An algorithm running on a classical computer is executing in a very different environment than a brain that is directly part of physical reality.