Actually I think the scenario described in the OP is perfectly possible if enough custodial Bitcoin services (ETF companies, exchanges etc.) collude and the community is so indifferent towards Bitcoin's original "values" that it accepts it.
True, but fortunately the Overton window for making a Bitcoin blockchain rollback acceptable seems far, far away.
I'm not even sure what kind of apocalyptic financial loss event it would take to nudge the community's openness towards a rollback in the slightest. Even with Ethereum it took something the scale of the DAO hack; and even then it wasn't entirely uncontroversial and would have had a good chance of failure if it weren't for Ethereum's heavily centralized leadership.