I think that Facebook knows that Instagram is doing exceptional- worse than other social media services popular with teens- damage to teenage girls minds, and doesn't care enough to fix it[1]. Just saying "the algorithm did it," as if humans didn't create that algorithm, constrain it, and are now carefully monitoring its destruction of people's lives, is to absolve the people who work for Facebook of their agency. They built those algorithms and are responsible for their actions. They made a choice to build the algorithm and to give it power.

Much like tobacco companies knew that their product was doing exceptional damage to their users lungs, and clearly didn't care either.

[1]: They know that because they are quoted in the original article saying that- that Instagram seems to be worse than Snapchat and Tik-Tok for the psyche's of their users. They seem to be taking steps to try and rectify that, but they seem very small, in proportion to the damage that they are inflicting.