Liquidity in instruments other than equities (options/futures/futures options) is getting worse, not better. Wider spreads and less liquid markets actually do disproportionately affect smaller investors who are doing anything other than straight equity buying and selling. HFT isn't hurting liquidity and isn't nearly the problem it once was, and this doesn't do anything to address the actual problems in dark pools or auctions or the non-transparent part of the market.