There were opportunists on both sides but the blockstream people argued that purely observational non-mining nodes somehow 'secure' the network despite having no effect and need to be possible to run with a non-broadband connection and less than 100GB of free disk space. Satoshi himself in the Bitcoin whitepaper estimated higher bandwidth and storage requirements for nodes than what the blockstream employed devs said were too high. The point of Wall Street getting involved was to kill Bitcoin as a currency and turn it into a pure speculator's playground. (aka bitcoin as gold)