There is nothing in the algorithm tied to BTC price. Sure, you’ll likely tend to get less miners as the price decreases, but that doesn’t guarantee that it’s profitable. Plenty of people, organizations, governments, etc do things that aren’t immediately profitable and may never be.
“You pay me $36,738 to glance at your leg and tell you there’s nothing I can do, and you think me to be satisfied? scoff See you next tomorrow for your weekly checkup, otherwise I’m cutting off all of your prescriptions.”
-Doctors (or, rather, mega health conglomerates that bought all of the doctors in the nation and would prefer to see your entire family die than to lose a nickel)