Does it matter if VNDM offers a price that does not lead to any trades?
Sure he is not always lowest ask just out of the fact that others are undercutting him all the time of course. The fact alone that he and/or BMAK are here for months is not cool IMO.
Certainly it does if VNDM is intentionally trying to hold the price down for acquisitions by clients who have the spinoffs figured out. The price rise from those spinoffs will be substantial.