why do retail traders "need" to exist? Retail traders realistically have only luck to rely on to beat hedge funds and banks. What they do is akin to gambling,

why do retail traders "need" to exist? Retail traders realistically have only luck to rely on to beat hedge funds and banks. What they do is akin to gambling, which is on net quite negative for those who participate in it and heavily regulated. Retail traders don't serve any purpose in our society. They don't help with efficient allocation of capital and anyone who might be an actual savant in trading can join or start a firm rather than staying independent and unlicensed.