Yes it surely has its pros and cons. It does solve the overarching issue of this thread but presents a just as bad of a problem losing all the freedom & self custody of the coins which you can't control or move the same way and it's more like a stock. If they made ETFs the same as they are now but added an option to convert them to bitcoin this would be ideal, and honestly I could see this happening in like 10 years or something if there is enough demand and a great enough call for it.... it would change the entire structure tho might end up creating a new type lf fund. Bitcoin Exchange Trade and Freedom Fund ETFF 😛
Despite the pros and cons, I don't see Bitcoin ETFs as a "solution" to this. I still see "real Bitcoin" as a solution for inheritance plans. Because Bitcoin ETFs are not really Bitcoin like you can hold in a non-custodial wallet. The Bitcoin ETF providers are just providing contracts to their clients, they never hold that amount of Bitcoin in their wallets—it's like eating a vegetarian version of chicken, you just spend more time and money buying it, when you could be eating real chicken.
And as for the ETF to bitcoin conversion option, I think even if it were to become a reality, people would probably have to pay more fees to do the conversion and it would probably be limited in quantity and take longer to process. And I don't want to be bothered with that. But that's not certain because the ETF providers are only responsible for selling contracts to customers and they have no responsibility to provide the conversion feature to their clients since they are also restricted by regulations in this regard.