We're hardly talking our own book - we have a proposition that uses ETFs to establish portfolios in an efficient and low cost way. We are simply trying to identify tail risks within the fund industry before they occur. This is the essence of both good risk management and professionalism in financial services. The comments made are not innaccurate, and I suggest you re-read them as clearly the topic is of interest to you.
Various regulators have made similar concerns and the FPC (The Financial Policy Committee) in the UK is looking at over-exposure to ETFs as a form of Systemic Risk. Perhaps their thoughts on this will also be of interest to you.