Incorrect. OpenCoin has complete control over the price by having complete control over the supply.
The market takes that into account. It's still a free market in the bigger picture. Opencoin can not control whether or not people purchase XRP. As of now the free market has assigned a value of around 50 XRP per usd.
When you unilaterally control supply, there is no free market. If OpenCoin were to dump 30 billion XRP on the market tomorrow, do you think the value would still be 50 XRP/USD? Obviously not. Until the majority of the XRP is distributed, market demand is in the hands of OpenCoin.