Earlier quoted context omitted.
Rent-seeking is an "economic activity to gain wealth without any reciprocal contribution of productivity". Or put another way it means societies resources are put towards wealth transfer instead of productivity/wealth creation.
Thank you; understood. I've just looked at the Wikipedia definition[0] as well, which is a little different, but I get the point you're making. I haven't thought about this enough, but one thing I'd note is that HFT is risk-taking, and taking a risk generally has the possibility of profit or loss. A second thing would be that the phrase "society's resources" is a bit dangerous, as it might let us think that the money…
From the perspective of the whole economy it is everyone's money. Rent seeking behavior is a dead weight loss due to market inefficiency. Through tax policy the incentives can change and largely remove this inefficiency.