As a society, we like to reward people who do things that are useful: feed, house, clothe, warm, transport, educate, protect, medicate, lately amuse people, and get money that may be exchanged for those services, or yachts.
HFT traders provide none of those, nor anything comparable, but get yachts anyway.
Ah, so you lack a basic understanding of how the stock market works, but think you're qualified to make very strong statements about it.
Btw, you need to be careful, because people might still race to be the last (or first) to contribute to a batch.
They'd race to be the first, if tied prices within a batch are resolved in favour of the earlier bird. Otherwise, they would race to be the last, so they have the most information available when deciding on their price (and so that they can change their mind until the last nano-second.)
Granted traders can play other games, but their primary benefit to others is significant