Earlier quoted context omitted.
An "algorithm" is simply a way to do a thing based on a set of rules to be followed... of course it's ambiguous. Getting scared of anything that generic is silly. Might as well fear the outside because anything can happen out there!
It's quite not, actually. Humans have the ability to see nuance in things. Computers currently don't. So you see things like Google banning developers for innocuous violations of the rules, whereas humans (assuming they were given enough time to properly review) wouldn't give 3 strikes just because they saw the same violation 3 times.
Algorithms and computers are NOT inextricably linked. Just because software often uses algorithms to define behaviour, doesn't mean algorithms cannot mean other things.