Have crypto ETFs rendered Cexes obsolete?

From what I have heard, asset management funds like Blackrock and Fidelity are currently charging lower purchase fees for these ETFs than a lot of the centralized exchanges out there.

The funds have basically become the new, more refined custodials of Bitcoin. Moving forward I think that it is going to be a tough sale for Cexes like Coinbase or Binance to get folks to start or continue investing into crypto through them. Especially in light of all of the Cex-related disasters surrounding FTX and Binance.

Do we continue purchasing through Cexes or just go 100% into cold and hot wallets?