SPDR S&P 500 (SPY)

[USDollar]

without enough money behind algos/programs they are meaningless

So "if you can't beat them join them" is essentially all about the big money (or house backed by fed funds)

Let's take for example "Mr. Worst-Trader" in here or anywhere. He gets in at VERY TOP in 2000. Everyone doing the same thing freaks out and blow account/s. But "Mr. Worst-Trader" having enormous funds at disposal, remains calm, and implements "Algos/programs" .....all the way to the bottom !!!
Then all the way to the next top (and crash).

And so on.

So in the end, "Mr. Worst-Trader" is made right no matter what, and becomes "Mr. Big-money brilliant Algo-user", but in fact all nothing more than courtesy of piles of money.

If they didn't want someone in the club anymore (Lehman) , they withheld funds...