Macmillan, Amazon, and producer vs retailer

People all over the blogosphere have been piling on Amazon about them going nuclear in response to Macmillan telling them that it (Macmillan) wants to set prices for Macmillan titles sold as ebooks. They call Amazon a bully, and take Macmillan's side, "of course Macmillan has a monopoly on their content", blah, blah, blah.

I heartily disagree, and that's putting it mildly.

First, some basics.
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