请教 杨鹏长难句 GMAT 027题

jinnuhong

027. Protecting children from the crass business world became enormously important for late-nineteenth-century middle-class Americans, she suggests; this sacralization was a way of resisting what they perceived as the relentless corruption of human values by the marketplace.

as作用和含义是什么？
蓝色字体语法结构是如何？ by the marketplace 不需要动词吗？ (corrupted ....... by the marketplace )

圆圆大芒果

应该吧蓝体字还原成为 they perceived what as the relentless corruption of human values by the marketplace.
动词就是perceived。
理解为 they perceived...as....by.....