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Sure. In this case "what it really is" means "what does it optimize for, why did people invent it"
1[anonymous]
Well yes, but no, the point is that these other people are merely means, but optimally distributing your assets over time is a means that screens off the other people, in a sense. In the end, assuming that people are really just optimizing for their own value, they might trade for that but in the end their goal is their own allocation.