Not exactly. The better counter-argument is more broad than that in that it isn't limited to investments but instead any kind of transaction and that quantity

Not exactly. The better counter-argument is more broad than that in that it isn't limited to investments but instead any kind of transaction and that quantity of transactions is more important that they size of transactions. This can be argued either way for the point of economics. For the point of something more practical, like taxation, it doesn't matter if the primary means of taxation isn't based upon transaction frequency. The primary means of tax revenue in the US is income tax, which has no bearing on any transactions.