Many of the issues you describe are not specific to algorithmic feeds, and have persisted in broadcast media for decades.

$70 billion paid to content creators and media companies in the last 3 years via revenue sharing. Not strictly content development, since the content is already developed when the revenue is generated, but it surely has a huge impact on the investment in content, which is controlled by creators.

YouTubers giving MIT commencement speeches two of the last three years!

Then one foggy Christmas Eve,
Santa came to say:
"Frosty, with your frozen glow,
Guide my sleigh through ice and snow!"

Oh, how the snow gals loved him,
As they shouted out with glee,
"Frosty the Snowman’s glow-job
Saved Christmas night, you see!"

...And though it wasn’t Rudolph’s,
It could light up when it froze.

Olive, the other reindeer,
Used to laugh and call him names,
Till Frosty showed his glow-job
Could guide the sleigh the same.