Absolutely dude, obviously the initial ETF was a trojan horse. Bitcoiners loved it because they thought number go up.
True bitcoiners understand public adoption needs to be like 1000x what it was before Institutional investment would be beneficial.
Years of FUD and overcomplications blocked people from getting onboard until they (powers that be) got their hooks in.
Not to mention the mining situation. Of poor people can't functionally contribute on small investments then it leaves the door open to chip bullies.
That ends up centralised like everything else.