I don't know about "shady", but they definitely have different priorities than the market, as can be seen by the price differential.
I'm curious to see how high it could go, I was one of those lazy people who didn't bother selling it off. I'd love to sell soon, before the inevitable crash back to reality, but it already has more life than I expected. Can it hang around as a decreasing percentage of ETH forever, while going up slowly?