It does disprove your point. They would happily list it if they could, why wouldn’t they otherwise? I’m sure they’d love to charge fees and so on.
It has nothing to do with demand in the market for a privacy coin.
Discussion
They don't list it because they calculate the misguided regulatory risk outweighs the benefit. I also think it's in their business model to curry favor with regulators and establish government enforced moats around their business, but that's a separate tangent.
Their calculation changes if demand for crypto as currency increases. Only at that point will the benefit clearly massively outweigh the cons.
Feels like we're going in circles at this point. I don't think we really disagree that much, just arguing to argue.