Themis trading wrote a report saying HFT is evil? This is about as persuasive as the taxi industry releasing a document saying that Uber is worse than Voldemort or the hotel industry saying AirBnB is the devil.

Furthermore, many of the issues described there are fairly innocuous in reality.

For example, flickering (aka "quote stuffing") is a software bug which costs HFTs money: http://zacharydavid.com/2014/04/on-hft-part-ii-bugs-features... https://www.chrisstucchio.com/blog/2014/quote_stuffing_is_a_...

The issue of HFT being a zero sum game in the race for latency is predominantly caused by the subpenny rule: https://www.chrisstucchio.com/blog/2012/hft_whats_broken.htm...