HI Kirkland,
So if it's not about Pipestud's prices, what is it about? Hoarders? Yes, there are a number of people who have amassed large amounts of tobacco for their personal use, and there are any number of people who have amassed stocks of particularly popular blends with a view toward selling them at a profit. People do that in a wide variety of markets. Some do it because they're investing. Some do it because they're nuts. But Pipestud has little to do with this. He's not even a drop in the bucket compared to the vast amounts of tobaccos aging in thousands of cellars. He's simply a conduit for some people to sell some of their holdings. If the market for aged or out-of-market blends expands, others will follow in Pipestud's footsteps.
If your point is that hoarding is unfair, I don't disagree. But in general, people really don't care that much about fairness, except when they think they're getting the short end of the stick. They sure as hell don't want anyone imposing "fairness" upon them. Acts of kindness and generosity are personal and individual. So, human nature being what it is, hoarding is going to be an ongoing activity. And if that causes problems or market distortions, so be it. It makes those acts of kindness and generosity much more meaningful because they're not the norm.