This is a brilliant article, Umair. That's what's going so wrong with society and even capitalism.
The algorithms are our masters now and most of us (me) have no idea.
Yes, I think this current world is about to collapse. We're due another financial crash anyway (overdue) and I suspect the algorithms too will bite the dust, though I have no idea how. Perhaps their workers will finally rebel?
It won't be the End of Civilization - it's really hard to kill a civilization or a culture and takes at least 70-100 years.
But it will be interesting.