Completely agree that any involvement in BTC at the moment would be "early adopter marketing" & on some of the other concerns established businesses could have with fundamental shifts in their industry.

I don't think PayPal would go out of their way to push BTC. They're almost certainly taking a "wait and see" approach. The primary thing I unsuccessfully was trying to get across was that PayPal probably does not particularly fear or seek to undermine Bitcoin. It's likely to be upside for them.