Intelligence is also a function of speed. All else being equal, a faster solver will win over the slow one. A faster learner will accumulate much more knowledge in less time.
In warfare, it pays to react faster than your opponents. You don't have time to think slowly about how you're going to shoot. You'll just have to shoot accurately and utilize tactics that you already know.
Much like warfare, the race to trade is a zero sum game. Either Leela or Bender is going to provide liquidity, but no one (besides Leela and Bender) cares which one does.
There is no compelling social reason why we should reward smarts in this case.
Should all the spoils of market making go to the fastest trader, or should the trader who is willing to offer the most volume be rewarded? The goal is liquidity, and it is not obvious which answer is best. Don't dismiss the tradeoff.
At any rate, the current system is much better than rewarding the tallest guy with the ugliest jacket.
In warfare, it pays to react faster than your opponents. You don't have time to think slowly about how you're going to shoot. You'll just have to shoot accurately and utilize tactics that you already know.