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?
Some will move them to paybase and buy some crap, some will convert to BTC and walk away, some will wait until Jan 15th to convert to USD and walk away, some will stake in their home wallets, and some will stake in their hashstakers. There's a lot of moving parts here that you all seem to think will only happen one way.