The lack of an algorithm is the biggest advantage and the biggest disadvantage - it makes it hard to discover new content and people to follow. I know people are working on "starter packs" for Mastodon like they have on BlueSky, which I think will help.
But I wonder if we could find other ways to make discovery easier - a "followed by people you follow" or "favorited by people you follow" feed, or something. Also, I wonder if the interface shouldn't suggest boosting a post when you favorite it... We need more people boosting more stuff, with no algorithm.
You have to follow 200+ people to get a decently full feed on Mastodon, and everyone has to boost a lot. Reducing the effort required to do those things would increase engagement on Mastodon, I'm pretty sure.