I see an algorithm as considerably more than an equation. An equation describes a relationship whereas an algorithm is a step-by-step procedure. In addition to process (which could relate to an equation) - an algorithm can have conditionals, symbolizations and recursives.
To use a simpler example, if the inception of biological life requires autonomy, symbolization and finite state machine processes, then it is much more than a simple equation.
On a cosmic scale, I wonder if the changing balance between dark energy and dark mass (accelerating universe) also points to an autonomous finite state machine process; likewise, why there are but three generations of quarks and leptons and but three gauge forces.
I donno. Perhaps it's because there are three deities -- Ying, Yang, and Melvin. [That's a joke, A-Girl. I really can't answer your question. Hugs!]