You are assuming "the majority of players" here to mean "players who have pledged to a faction", not truly "majority of the players".
EDIT:
I am of the opinion that there will be MORE players un-aligned to any faction than there will be for any of the factions

Simply from the observation that Powerplay seems to interest those who are MMO-centric/PvP-centric in their interests. The rest of us (explorers mostly, some mercs and traders) probably have no interests whatsoever.
I am not pledged to any faction, have no plans to pledge to any of them, and none of the space is hostile to me

I go where the money is, and my loyalty is valid until the end of the current contract