This I think is wishful thinking. If they already made the trade and profited, they’re not going to care about the people scooping according to what they did. If the followers-on like me overinflate or kill the asset depending on what the cheater did all it would do is damage the economy. If you are in a position of aristocratic privilege such that insider trading is possible for you, destroying the economy is an opportunity to acquire assets at a bargain.
Being born to narcissistic parents was extremely controversial in my childhood home. I was the selfish little ingrate in the house who kept asking for things even though they already provided a house and food most of the time, and that was very polarizing for my parents.