I think the question doesn't make sense, because if you take it further something interesting appears. If you do have tiny solid magnets in a liquid, why don't

I think the question doesn't make sense, because if you take it further something interesting appears. If you do have tiny solid magnets in a liquid, why don't they rotate and cancel out? They clearly cannot do so because macro sample would lose its properties. It simply cannot be tiny magnets suspended in a liquid. You gotta provide finer definition of a liquid because it typically does not have a structure. In your example there are constraints to movement and position of tiny magnets.