That really depends on what you mean by that. With the initial release of the kindle, Amazon was selling major publisher new release ebooks for less than $10 b

That really depends on what you mean by that. With the initial release of the kindle, Amazon was selling major publisher new release ebooks for less than $10 by simply eating the difference between their wholesale cost and the markdown. Agency means Amazon gets a reliable 30% margin on them. All evidence supports that publishers are generally speaking selling exactly as many ebooks as they want to be selling, since they have granular control over pricing - it doesn't help digital readers, but it does keep a moat around their physical business, which ultimately serves print readers.