It adds no value and shouldn't waste this resource. Latency arbitragers get rewarded based on beating the next best: they get the same reward for beating next-

It adds no value and shouldn't waste this resource. Latency arbitragers get rewarded based on beating the next best: they get the same reward for beating next-best by 100ms as for beating by 1us. There is no net value to society for the difference, but lots of resources wasted in achieving it once competition has reached that level, squandering most of the reward on in the forms of data center waste heat, spectrum waste, and soon probably rocket exhaust.