They’re unregulated slot machines. Go and look at the Terra/Luna Twitter and Reddit. It’s filled with casual to addiction-level gambling tells. The responsible ones acknowledge they’re putting a few hundred in and will likely lose it but maybe it goes up. The less fortunate treat it like an investment.
.. and we call those investments.
In contrast, a company can hide wrongdoing and you can be left with something like Enron.
Long-term, I'd trust the algos more than the traditional system. Survival is a powerful selector, flawed ideas will be weeded out. Those that remain will be both resilient and transparent.
LUNA being an algo stable helped with nothing. Do Kwon erratically bought BTC at a peak and during this attack, it was "sold" but is now /unaccounted/ for. Further, they minted more LUNA and increased circulating supply from 350k to 7T in a few days.
None of this is algorithmic, but purely (and messily) human-operated.
You can sometimes do the same with companies but definitely not always.
Many people feel it's their only way to escape wage slavery.