But still an algorithm. The difference is that we (at least some of us) place a greater trust in the integrity behind how information surfaces on HN. I think that some parts of it are open source, and the moderators are transparent enough about what isn't public + there is a mix of folk knowledge that explains how HN works under the hood.
Depersonalized algorithms or recommender systems aren't inherently better than personalized ones. HN is an exceptional example of the former but I think at scale people would come up with a different crop of complaints for them.
Yes it's still an algorithm. Cable TV programming is another example. Everyone sees the same content. The ads are changed at the local broadcaster level but are not tailored to the individual, and are not harmful in the ways the EU is regulating. If anything, everyone watching the same thing is good for social cohesion. Everyone discusses the latest TV episode the next day at the office.