If you like the look, it's actually good for the fish.
1. Some will eat it, and it's good for them.
2. It'll eat your nitrates. I haven't seen a single reading (ammonia, nitrite, nitrate) over 0/0/0 because of the green algae growing in my tanks.
I just clean it off the front glass and vac it out of the substrate when I do water changes.
Yep! Look up the ultra powerful nitrate filter in the filtration section of this website. A lot of members are colonizing algae in their sumps to remove the nitrates from their tank. Personally I like the look of algae as long as it isn't on the glass obstructing my view.