The excerpt is from this SSRN preprint, section III: https://papers.ssrn.com/sol3/Papers.cfm?abstract_id=2790606

The fund went up not down. That aside, I believe the point is that if a bot goes and does that, it is simply doing what a human told it to do; bots reflect the commands of their human masters in an environment (financial markets) created by and for human endeavors. Hiding behind "bots" is not a way to get insight into mechanics of how markets (mal)function, IMO.