Security and illegal migration seem dubious reasons to introduce (not) visas for the US. Is there a problem with illegal immigrants from the US? Terrorists?
So then we're just left with tit for tat politics. I for one would like my politicians to be more mature (ha!). This is how trade wars, and worse start. I personally would like to lead by example, be the better man, and be a good neighbour. If others don't wish to, that's their problem.
True free movement would then be reciprocal, i.e. EU-US travel would not require either ESTA or ETIAS. Basically that would mean US would be part of Schengen Area or a new similar structure.
The discord about US requiring visas from 5 EU countries is a separate issue that might bring other actual "tit for tat" measures if not resolved.
The barriers between the EU and other countries already exist, just to a different degree. There are certain benefits of ETIAS, especially concerning the security and illegal migration, as explained by a video linked in a neighbouring post. US is already imposing ESTA on EU citizens: why should EU give in and not apply the reciprocal measures?