Grading is inherently subjective, no way around that. Having said that, though, it is my view that TPG is, on balance, of benefit to the hobby largely because it facilitates long-distance including internet transactions.
The problem I see relates to the enormous differences in value ascribed to high grades of even modern day commons. Even assuming no ethical problems in the grading process, the subjective nature of grading should over time reduce these disparities in my view, perhaps risking the investment of those collecting the highest-graded cards.
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