[shadowgovt]

That implies exploitation is not defined in the transaction between the individuals directly affected, but via a third party acting as a higher power.

I agree, but it "smells" weird that we've included "feel" in that set in this specific context. If neither party feels they're exploiting or being exploited in an employment agreement paying well above minimum wage, then by what standard is a third party judging their transaction that we can conclude they "feel" wrongly?

We start to go down a pretty dark path when we take "mutual consent" off the table as the gold standard for two-party interactions. There are absolutely criteria of things in society for which we do that, but we hold them to a very high standard of scrutiny, and I'm not convinced "That employer is underpaying their employee with too low a six-figure salary" meets that high standard of scrutiny.