You're somewhat right, but let's be fair. According to what's been revealed about the technology behind MQA, it actually applies better math on the age-old problem of how to create filters in frequency bands and not have it impact phase and rate. Because a lot of smart people have done a lot of math to solve somewhat-germane issues, we have a better understanding of how sound travels not-in-a-vacuum (friction, etc.). Because MQA is an encoding scheme, it can digitize analog signals directly at the recording site. Each track can be digitally woven to the others and gain matched, and we can get a better representation of the analog signal without having to use the standard baseband signal used as a sampling rate, etc. in PCM. (Lots of mumbo-jumbo later)... we get better phase, smaller files because we now don't need to actually capture as much as we did in the past, and we also get a better sound output. So it's another rights holder, middle-man, what-have-you, when it is applied to existing PCM/DSD data and in this case is just a re-encoding of the master though it does give us a new flashy light
I'm not on one side or the other. I believe that open standards are better for everyone and allow for others to take the baton and run with existing open-rights IP and improve on them in ways that just don't happen in a closed-rights system holding technology. Case-in-point, if FLAC were not an "open-standard", then Bob and Peter wouldn't have been able to store MQA "on top of" regular FLAC files and put MQA encoded files into the FLAC format.
If Bob Stuart and Peter Craven and his odd company, "Algol Applications, Ltd" have managed to produce something on their own dime that's truly greatness, then this would be great for now. Long-term, it doesn't do much to help the industry build upon the technology they have built. Sure, they will license it and may make it available at super cheap rates in order to get wide adoption, but not just anyone will be permitted to improve on their design other than those they allow.
Nothing I read anywhere suggests this is anything other than proprietary encoded PCM? Why not make available non-proprietary encoded PCM? How do the labels benefit from having another rights holder in-between them and the consumer?