Eohallor: let's skip point 1), because trades on GM are necessarily balanced, but all your other points (2 to 5) are well expressed and thought out and are absolutely pertinent.
Objectively speaking, the upshot is exactly what you say it is: "there seems to be a lot of background activity!!!!"
At some stage the "background" may become the foreground of everyone's attention. JMHO. It's good to see the board, as well as the trading, so alive!