I think one could further generalize your argument: the very economic role of all algorithms is misunderstood in this thread. Maybe if we consider a less loade

I think one could further generalize your argument: the very economic role of all algorithms is misunderstood in this thread. Maybe if we consider a less loaded class of algorithms e.g., pagerank this would help along the discussion. The adtech business model had little to do with the details of the underlying algos. Technical aspects of search algorithms may have been a catalyst that selected one of the many providers but it took completely unrelated circumstances (market structures, political and regulatory attitudes) to enable and sustain the new economic reality that ensued. There are many older precedents that point to the very complex relationship of "algorithms" with economic value. Think e.g. trading algorithms or credit scoring or insurance models. The idea that some supergenious geek will develop an approach and "beat the market" is a recurring theme but the reality of applying algorithms to human affairs shows none of that comes to pass.