My opinion: I see wildly different price action over different stock sectors and have also noticed the GBP difference in currencies.
Some markets are too noisy for trend following strats, but they're great for range algos. I don't see the logic in discarding a strat that works well in one area because it won't work on both. You have to target your service to the right market.
This can also go for times and time frames, as well. One of the classic tactics of trend following was a volatility filter to turn the system off if the market was too wild. The demo for Trading Recipes shows this in action.