What Is the Main Argument for Keeping the Mempool Public despite the Front-Running Risk?

The main argument for a public mempool is transparency and decentralization. A public mempool allows anyone to verify that transactions are being processed fairly and prevents a single entity (like a block producer) from censoring or secretly manipulating the order of transactions.

This transparency is fundamental to the trustless nature of public blockchains. Furthermore, the competition among arbitrage bots for MEV is often argued to contribute to market efficiency.