If we have this huge pool of miners out there, then why are transaction speeds so slow? Surely the more miners, the faster it should go. If not, there is something fundamentally wrong with the algorithm.
Do you know the difficulty of bitcoin mining? More the people mine bitcoin, more becomes the difficulty. And now, segwit and lightning network are helping out transactions to be processed more faster. Read up on that and you'll know how. And satoshi created the algorithm, how dare you question him? 
Just kidding,but there's nothing wrong with the algorithm. There are updates to that. Example: segwit.