The Four-Factor Test for Fair Use

There's this four-factor test that gets applied by courts when a copyright holder sues someone for copyright violation. And the test is what's the purpose of the use of the copy that's allegedly infringing? So is it directly competing with the original work? If you're doing something totally transformative, meaning you're changing it wholly for a totally different purpose that wasn't anticipated by the original author and you're not competing against their ability to make money from the original work, then that's a potential fair use. I think this is also an interesting case because we may be to point where we've created a new marketplace for licensing works. There was no previous marketplace for stock photography but maybe now