One can say whatever one wants (badly) about crypto exchanges, but the fact is that these companies are the entry point into the world of cryptocurrencies for most of those who own them today. On the other hand, it is undeniable that these companies are not regulated, as is the case with banks - but when the authorities want to intervene and regulate this business sector, most crypto users oppose it because it threatens their privacy and reduces Bitcoin decentralization.
When it comes to price manipulation, crypto exchanges certainly have a chance to pull certain moves, but does anyone expect to say Coinbase dump about 1 million BTC it has in its possession, buy gold for that money and then live long and happily without any repercussions? It is something that belongs to the conspiracy theory, but one that has a sci-fi sign, and is not realistically achievable in the real world.
I agree with you. It's paradox when people request bitcoin exchanges to be regulated and at the same time they still want to stay anonymous and complain that regulations will affect their privacy.
Btw the problem is that exchanges really try bad things. For example, binance bought coinmarketcap, the major cryptocurrency price checker. So, I think it's unfair agreement and is not good for cryptocurrencies.
But, I don't agree with the subject of this topic. Exchanges aren't preventing bitcoin mass adoption, I think it's even in their interest to see bitcoin mass adopted and get as much customers as possible.