> I'd trust the algos more than the traditional system

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.

Agreed, there will always be scammers out there. Trust the code, not the human shills. Just as with a company, consider who has controlling interest. One advantage of crypto however is that the books are wide open to those willing to look.

No, my point is that an algorithm can only control very few things - most governance actions are manual and attacks can exploit anything.

Yes that's fair, but if you choose algos/chains with actual distributed governance then you at least the voting has to happen on-chain so you can sell if you don't agree with the way a vote is going.

You can sometimes do the same with companies but definitely not always.