The reasons you stated as to why Algol is broken are somewhat absurd, and they're things that plenty of other characters have as well. You don't want him banned for those reasons, you use those to back up your desire to ban him because of his bubbles. BB is nothing broken. 1A is nothing broken. Sure, they are good, but if Mitsurugi had these same attacks, nobody would really think much of it. Setsuka's 1A: A: A is similar in speed and punishability to Algol's 1A, but it does much more damage and it is all natural combo on regular hit. People just try to find extra reasons that could help support their ban argument, when in reality the character's only "problem" is one simple aspect of the character's movelist. Amy has plenty of shit that could warrant a ban, but someone would only use these moves as reasons for a ban if she also had bubbles or a doom combo. There are ways around bubbles; they can all be stepped, they can be impacted, and they are all reset after a throw is performed.
Also, a nice example of a site that doesn't bother closing its ban discussion topics is Smash Boards. BAN META KNIGHT!
/edit/ Forgot to mention that Algol's phenomenal backstep is countered by the fact that he has a shit stepping speed.