If this is not an Enron-like foreshadowing, it says something rather dark. It certainly looks like a 'bubble is about to pop' indicator, though it's generalized to the whole financial sector (to the extent that a blind index fund represents it, at least).

If it does pop, it suggests that an industry that is on average not as good as its own average, is itself overvalued (as numerous other comments strongly imply).

If it does NOT pop, it's speaking a deeper truth. It speaks to a collective, society-wide agreement: those with power should automatically get more power. Those with money should automatically get more money. The mechanism doesn't matter: it's like a moral duty to reverse Robin Hood and fill in the reasons later. If a dumb blind index beats everything and never fails, that means we've gone all-in on redistribution of wealth to 'the winner', defined as whoever has all the wealth.

And the only way to break that loop is pitchforks and guillotines. Some might say in the age of automation, AI and robotics, such disruptive things are impossible. But the original pitchforks and guillotines were in the age of early industrialization, and I'm sure nobody thought machinery and tools could end up turned against the rich and powerful. Everything's a tool eventually.

Vanguard popping is the SOFT option.