That would be totally boring trading and unremarkable, but that isn't what HFT firms are doing. If that were the strategy then exchanges would presumably just sell a skip-the-queue service when two traders offer the same price and there wouldn't be much point worrying about how far machines are from the exchange.
HFT trading isn't about executing the same trade as someone else but a tiny margin faster. That wouldn't have any special impact on market spreads or liquidity, for example.
There aren't any complaints against the T in HFT; as traders they are helpful. The value questions are about the HF and whether it is a desirable part of the market or an unhelpful arbitrage opportunity created only by implementation details of the exchange.
HFT trading isn't about executing the same trade as someone else but a tiny margin faster. That wouldn't have any special impact on market spreads or liquidity, for example.
There aren't any complaints against the T in HFT; as traders they are helpful. The value questions are about the HF and whether it is a desirable part of the market or an unhelpful arbitrage opportunity created only by implementation details of the exchange.