I think you're overestimating the cost of running an exchange by several billion dollars.

>I don't know why it's bad that people who don't need low latency are allowed to not pay for it.

FRONT RUNNING

>"Quote Stuffing" is not the nefarious activity that Nanex portrays it as. It's generally the result of your algorithm screwing up

No, it's generally the result of an HFT intentionally trying to clog up the order stream (in order to push everybody else back), or trying to gain an information advantage.

>It provides no benefit to the trader

Now you're in cuckoo land.

> I just find this topic frustrating since there are a large number of comments that display a complete misunderstanding of basic market mechanics

Yes, i find it frustrating arguing with you too. What's worse is that you think using industry jargon will intimidate others into thinking you know better.