I'm not missing the point. You guys are missing the point that GAW doesn't have to buy any coins. They already have the coins they need to fulfill the HP->XPY conversion. Please acknowledge that you understand this before moving on.
Yes, you are correct. GAW *does not* need to buy any coins to fund their HP->XPY conversion. That was accounted for in the premine.
What do *you* think all the people who have been buying up coin at $4-$7 are going to do with it? Sit on it? Stake it?