I have seen this image going around.

I would say it is misinterpreted. Bitcoin should be the water and the firms should be in the valley. The impact of Bitcoin on them is much bigger than the price impact they could create on Bitcoin imo.

This narrative of Bitcoin ETFs reinforce the idea that Bitcoin is an investment instrument, when it is not. It is a saving technology, accesible to everyone. These firms buying BTC on behalf of others may positively impact the price but not the real usage/purpose of BTC.

Not sure if this image is helping.