If the Chinese can stop another bubble from happening, I'm all for it. Bubbles always hurt the underlying economy and benefit only a lucky few. The OP sounds like he thinks that the idea of stopping a bubble is something to worry about, but I disagree. Stability is better for Bitcoin and the underlying economy.
With that said, I seriously that three Chinese exchanges can control the market to that extreme. I hope I'm wrong. Bubbles are never good because they always burst.
They're hard things to avoid when everything is so tiny. Human psychology doesn't often allow the slow, steady climb. Our little monkey brains are tuned to panic in both directions. When machines are the primary buyers we might see a different approach.