Maybe we need much tighter rules around how the trades can be made.
I have no clue at this point what the model should be - but HFT is something that is completely undoable for a human, though it can have impact on humans at large scale and should be thought of more critically before they can be deployed into production.
I say impose a moratorium on all HFT until a determination of their value, impact, risk etc can be done and published and debated widely.