Such a decryption algorithm would completely destroy the internet. You couldn't protect anything. As soon as some idiot wants to wreck something, it is wrecked.

One the other hand having no encryption would allow anyone easy access to everything, even if the programmers didn't make any mistakes. Having no encryption, I think, would help those who are already powerful. The reason being that the easiest way to attack something becomes the man-in-the-middle. Just intercept packets and you know everything two computers are sending each other. And who can best do man-in-the-middle attacks? People who run the middle - internet service providers and telecommunications companies.