That is an apples to oranges comparison, Youtube is a platform not an institution. It is open to all videos, provided they meet certain agreed upon guidelines, and should not be responsible for censoring content based on individual opinions.
I don't think that the recommendation is broken at all, in fact it works astonishingly well for the vast majority of people. The fact that there are a few bad actors is also present in the banking industry, (Wells Fargo for instance), to use your own bad comparison.
YouTube is asserting editorial and publishing rights when it promotes certain videos, if it were a pure video hosting site (providing a link to uploaded videos for people to do with as they please) then I'd agree they were just a platform, but a newspaper isn't a platform and neither is YouTube.
Youtube is asserting on behalf of people who own the publishing rights and not on behalf of themselves. This is an important distinction. Youtube is not the same as a Newspaper in any way shape or form, I don't really understand your comparison.
I don't think that the recommendation is broken at all, in fact it works astonishingly well for the vast majority of people. The fact that there are a few bad actors is also present in the banking industry, (Wells Fargo for instance), to use your own bad comparison.