The book has been discussed here at length[1]. I never worked in finance but it doesn't seem to hold up very well under scrutiny from experts. Comments by 'kasey_junk and 'yummyfajitas were particularly informative. The latter even wrote a couple of blog posts, including "A Fervent Defense of Front-running HFTs"[2].
[1] https://news.ycombinator.com/item?id=7531429
[2] http://www.chrisstucchio.com/blog/2014/fervent_defense_of_fr...