Problem with algorithms showing popular content is that once you have them, you’ll have people trying to use them to make money. And by extension people trying to manipulate you for profit. Doesn’t have to be the platform itself doing it for it to be harmful.
I don’t really think mastodon needs those 5% to produce content to entertain and advertise a userbase of 95% lurkers. For me it’s definitely a bonus that they’re not there - I don’t need influencer-shit in my feed.
If that kind of content creator and passive user goes to Bluesky that’s fine. If they went to mastodon we’d just see calls for an algorithm, which would be directly against what I want in the platform.