Crypto is already very available to retail. It's easier to download crypto/com or some other exchange than to open an account with a financial advisor.

Wallstreet acts in their own interest. It was in everyone's interest for this to happen. Financial Advisors, Collective Investment Schemes, Institutions, etc, and the sponsors themselves to open up a new source of revenue.

If they dump they don't get AUM revenue. And their reputation is lost so no revenue from their established business either.