Sure, if you axiomatically accept the Efficient Market Hypothesis as a feature of modern markets that isn't going to blow up the global economy, which I would if it hadn't already come close to doing that already. Facilitating price discovery on the assumption of no arbitrage is great until everyone buys the same secretly-dog-shit security and the resulting market correction martingales the whole thing.

I think at the very least we can say that there is a limit to the fairness of an exchange between willing counterparties when one party is exploiting an asymmetry in information to profit off the other party. $99 versus $100 is one thing, $100 versus $0 is another.