Old, old Ethernet specs used to include multi-drop buses and a "hub" model. That hasn't been true for a very long time.
This is complete nonsense. Ethernet is a shared-medium protocol. The fact that it doesn't need any special handling of particular endpoints is one of the things that distinguishes it from e.g. Token Ring. How do you think it's possible to link two switches with a standard cable on standard ports? What on Earth are you basing your claims on?
The Ethernet spec is over 5,200 pages, including the old multi-drop buses, but the parts of the standard that specify the physical layer and actually get used, including 10/100/1GBASE-T and the fiber Ethernets, cannot support more than one endpoint on a wire.
You think Ethernet is 10BaseT, 100BaseT and similar, i.E. Twisted Pair. But original Ethernet was designed for Coax cable, for 1:many connections.
Basically you had one coax cable and run it from computer to computer. At both ends you had a terminator resistor of 50 Ohm. And at the computers you originally had vampire clamps, later T connectors. That was used until for two or maybe even three decades. First only in research, military and university (e.g. where also TCP/IP was originally was used). But later also e.g. for Novell Netware. The Terminator/RG58 cable/Network card with NE2000-clones or 3C359 cards was relatively cheap, so a lot of offices used that with some Novell Netware file server.
Ethernet was designed for many clients, the CD in CSMA/CD means collision detection. With only two clients, you could do some handshake, like with RS485. But with many clients, this can become cumbersome or impossible. So Ethernet decided to detect this, and to let the senders re-send the packets after a random back-off time.
On the https://en.wikipedia.org/wiki/Ethernet after "Shared Medium" you can see a picture of this entirely not 1:1 equipment :-)
You should* assume the wireless connection itself is compromised and use an extra layer, like wireguard.
*Assuming this makes sense within your threat model. It's not something I think I should care about much, personally. Everything important I do goes over https anyway.
[Edit: Retr0id is perfectly correct...but even thinking in terms of a threat model has already excluded the 99%, if not more.]