Man, it took a while but I finally found the original claimant: @yintercept.
@yintercept/hbd-v-hive-engine
@yintercept/we-will-need-636-new-dolphins-to-absorb-the-hbd-interest-in-2023
He discusses it further in other posts.
Ping me if you comment on it, I'm interested in finding out if this is true.
I do know that I went from running 6 bots to 0 bots in h-e markets due to lack of volume two summers ago.