This is a very intelligent way to look at it.

The only way that Cex could actually function as a real futures market is if there weren't a monopoly commodity seller.

The fact that Cex themselves are the only entity that can put tradable GH/s on the market makes the whole thing a nightmare. It would actually be amazing if there were some standardized way developed that people could provably put their own GH/s on a market like that, a system like that would actually function like a real commodity market.