Once you understand that the aether exists, then yes, the 'speed of light' is merely the rate of induction of this medium. That is why this perceived speed will vary depending on the medium it is 'moving' through.

As Tesla said, light is a sound wave in the aether, or an aether perturbation (disturbance) modality. It is the excitation of the medium where magnetism and dielectricity intersect.