I tend to get bogged down at the actual "point of exchange" in markets. The point of exchange typically happens at the place where the seller willing to offer the lowest price meets the buyer willing to (at that moment) willing to offer the most. That is where the actual market is happening.
Now, there may be thousands of sellers willing to sell for a higher price, and thousands of buyers willing to buy at a lower price-- but are they much more than spectators? A good example is the trading of any crypto pair. The actual "trading" only happens inside the small circle:
Of course, a lot of this becomes a game of semantics, as well. What is "fair," anyway?