I went to a university with a big Effective Altruist presence (I think I still have a ruler and a memory stick with their branding on it somewhere) and I found many of the arguments they make quite compelling until I looked into the movement more deeply and saw its repugnant core

Many people who are drawn to Effective Altruism are aware of the state of the world, and their relative privilege, but they feel overwhelmed by how little they're able to contribute to solving problems, relative to the size of the problems. People don't "donate" to EA, they're buying into a lie that helps them to feel less directly responsible for the world.