I don't think I said they're just continuations. In fact I'm trying to make the point that they're mostly just function calls (and I think in my career I've come across one case where I wanted something beyond function calls (for a constraint solver)). There are "multi-shot" continuations (whether you consider that interface or implementation I don't really mind), which have behaviour than function calls can't express, but I don't know of any algebraic effects beyond that.

What do you think algebraic effects are, if they're not continuations?

EDIT: Ah, based on your comment at https://news.ycombinator.com/item?id=48334737 you might say they're a feature of an intermediate language? So you might take a surface language and "compile to an intermediate language of lambda calculus + algebraic effects", without specifying how that intermediate language is implemented (because it may not even be implemented, per se).