I'd rather have the algorithm on the client side, under user control and respecting freedom, than on the (usually shared) instance, for reasons detailed mainly in the last slide of https://www.fsfla.org/~lxoliva/#santa
Algorithms aren't the enemy. Chronological feeds don't scale and the signal-to-noise ratio will plummet if this ever gets popular. The real problems with today's algorithmic feeds are non-transparency, lack of choice, and optimizing for engagement instead of healthy discourse.
Open-source is a perfect opportunity to fix all this. Have there been any efforts to create a Mastodon instance with a (community governed) ranking algorithm? Is that technically feasible? Or is the idea simply anathema?