From the graph in the article article, trend following has been abysmal for the last decade.

> Between 2008 and 2018, Societe Generale’s main trend-following index made only 3.7 percent, compared with an average gain of 62 percent for hedge funds and a more than tripling in the S&P 500, including dividends.

The market performed incredibly well over this period. These algorithms didn’t even keep up with inflation.