> How are prices determined? ... using a proprietary algorithm.

How is this article HN newsworthy?

For various reasons.

From what I get from it, it describes a complex technical + social system that has been exploited to the max leading to insane pricing, risks and a ban. They want to do that again it seems.

That this specific algorithm isn’t revealed is the joke: it’s a complete fraud, their secret uber elite algorithm will favor nobody except the owners obviously.

It’s super nerdy and it took some effort, at least for me, to understand the fun.

I might have completely missed the mark as everything about this subject, such as the Wikipedia article and so on are completely new to me.