I agree with you. I do not think that the introduction of the ETF will fundamentally change it. This is another tool that will take liquidity from ordinary exchanges. The history with ETF resembles a story with the last Consensus.
That is the angle i am scared of , It may all that be rosy, bitcoin was designed to be peer-to-peer payment system, if the 'central authority' that were cut off initially begin to make an investment out of it, I wonder how that will play out on satoshi's vision