Think of it this way... what if bitcoin cash, when it split, was able to maintain a significantly higher price than BTC for atleast a year post fork. Blackrock has an unimaginable influence on the market, and can hold the ETF holders hostage to their decision of the "legitimate" bitcoin chain. It is a risk to think about; Blackrock in my eyes is a malicious actor.
Discussion
This note is from another thread and is my current thought on the topic:
The only defense I could see is a robust Bitcoin ETF market, with each ETF offering competing over the traits of transparency, blockchain verify-ability, and ease of redemption. If only the Blackrock ETF gets approved I think shenanigans are about to go down
Agreed, however plebs aren't the only ones that would be screaming from the rooftops that Blackrock's chain is a shitcoin. With bitcoin being as transparent as it needs to be, I don't think any organization could pull it off.