I agree with you that for most of these points, the algorithm is unlikely to be less rational or more biased than a human (and the crime-fighting algorithm exam

I agree with you that for most of these points, the algorithm is unlikely to be less rational or more biased than a human (and the crime-fighting algorithm example doesn't seem to make a good point against the algorithm at all). However, for something like a credit approval algorithm, there is a valid issue of centralisation - if there are problems with the algorithm, a large number of people will be affected negatively by the same algorithm. While humans are biased and imperfect, you can find some who are less biased, or call their manager and see if they can justify themselves, etc. I can imagine situations where it's hard to escape or find recourse when you're faced with an algorithm that's put you in an unfavourable situation. I'm hoping that, given enough data to train on and enough validation to make sure they are working optimally, this will not really be a big issue, but I can understand if some people are concerned about that aspect.