Imagine holding ETH as a treasury reserve, only to face an emergency situation where there is need to rely on those funds, but unfortunately it's price plunge uncontrollably. The very asset meant to provide financial security now becomes a liability, exposing the country or company to massive shortfalls at the worst possible time.
The most silly part of ETH treasuries is that it drop 30–60% or even more in a week during market crash this alone can cause severe reduction in the allocated treasury, leaving any institution underfunded when they need stability the most.
I don't know who are the market makers behind ethereum but they suck and they are terrible human beings, they are the ones responsible for all this market tricks. They dump at every opportunity and then buy back at the bottom, this game of swings profits has been for a long time but do we blame them? Ethereum team hasn't been transparent and it all started before the pre-proof of stake mainet they pivoted to, alot of people didn't understand the concept and rush in by locking all their investments.
It's not the Ethereum team that is not sincere, but you, as you are exaggerating about what is not there. I've not seen any allegation related to your accusation about the team yet, and all their plans are always pre-warned and published. This is also an open source.
As for the market, it has its pattern and dynamics, and it flows with sentiment. I see no manipulation here, not even with the market makers, because they are everywhere, and their activities are legal to provide liquidity, and of course, for some gains, which are not illegally planned or structured. The Ethereum team will not even dare to contact the market makers or anyone for price manipulation.