anteck - 7:16 am on Jul 19, 2012 (gmt 0)
An Algo can easily create what looks like a penalty. For example, unnatural anchor text = take away all power and trust to that site. Thus rankings drop.
Penguin clearly sacrificed quality ( as stated by many including Rand Fishkin) so that google could flex it's muscles, show everyone 'who's boss' and 'level the playing field' (as they said it).
Who knows if they'll refresh Penguin? And when? They had a chance, a month ago, and didn't.
I believe they will keep this one as is for a while, just to screw the nails into the coffins of thousands of webmasters now struggling to make ends meet.
It's like taking a nuclear bomb to an area and wiping everything out, no matter good, bad, or ugly. Only the strongest buildings have survived, or the smallest shacks hidden in the forest.