Maybe? Most guys who are really fast are also really smart. It's hard to make money purely being fast these days.
I can't speak for everyone but most "HFT" models are built around providing some kind of service to the market, generally either making markets to try to make the bid-offer spread or arbitraging away inefficiencies between related products.
Even if you are evil, building a model that solely seeks to take advantage of another trader doesn't make sense in the long run. Eventually they will alter their behavior or exit the market. It's not sustainable.
I can't speak for everyone but most "HFT" models are built around providing some kind of service to the market, generally either making markets to try to make the bid-offer spread or arbitraging away inefficiencies between related products.
Even if you are evil, building a model that solely seeks to take advantage of another trader doesn't make sense in the long run. Eventually they will alter their behavior or exit the market. It's not sustainable.