So you cant recall a good counter argument against HFT from the clueless because there are none?
How are my takes?
HFT is a client side approach of front running. You dont have to make your transaction before the others, you just have to make it before anyone else afterwards; be the first.
The "minimization of price spread" or consolidation of prices is what market capturing monopolies do.
The HFT can only operate with low latency access to the market. This latency is ultimately defined by physical proximity, which makes it mutually exclusive. When a faster HTF comes along, the former one might get pushed into unprofitability. This makes the HTFs position an exclusive privilege to skim value, which is why people call it rent seeking.
