On the bright side, the algorithms are way more fair and even handed than the human editors of old. I don't think the majority of YouTubers, Twitch streamers and bloggers would ever have made it past the editorial desk at traditional media companies
Saying this in jest, but there was a time when this was highly respected and I feel that the number of places that have them must be diminishing quickly - or a shadow of their former pasts.
Because traditional media companies (I assume TV, radio stations) have a limited outgoing bandwidth in terms of outputting content, so they have to prune a lot more? The argument you are making is not in favour of content-ranking algorithms vs humans, but in favour of Internet-based media platforms (YouTube, Twitch, blogs).
Even if you put human editors in charge of a video website, there's very little chance they would approve someone like Mr Beast for example (before he became famous). They would likely judge his looks (innate human bias), plus his high budget format (self preservation with the bosses) and say his is an unfeasible show. Only an algorithm could have green lighted Mr Beast's show