My attempt at a charitable interpretation of Jalopy's post is that he is saying it's actually a bad thing to transfer wealth from informed traders. This is because David Einhorn has demonstrated great competence at trading, and if HFTs predate him it reduces his incentive to continue transmitting useful information to the markets.

I find this to be an argument I can't dismiss easily.

I've added a link to your comment to the original post. It's important to spread this idea as well.