The core of the riddle is that it is an ultimatum.
https://en.wikipedia.org/wiki/Ultimatum
Ultimatums have been debated historically, in great detail. For example, in the old testament of the bible.
https://www.bibleoutlines.com/isaiah-361-377-dont-make-a-deal-with-the-devil/
Even if one is not religious or cares not for reading biblical stuff, it is simplified effectively as such:
If given only 2 choices, it is never fair. Find another choice.