The situation is similar with mortgage CDS back then - no conspiracy theory/whatever, they just found a way to make AAA bonds out of junk. It was a simple arithmetics too. Everybody knew the arithmetics and was doing it.
Now is the same - they talked about that expected float/valuation squeeze even on NPR - this is where i heard it, i'm not that into finance markets to come up with it myself :)
You are presenting a theory that an unidentified group of people is engaged in a conspiracy to change the rules of the major indices for corrupt reasons.
That's a conspiracy theory. It might be true, but so far nobody can come up with any evidence in support of it.
The simplest possible explanation is that the indices are supposed to track the market, they can't do that if they exclude these IPOs.
It just naturally happens that that legitimate profit seeking and extractions benefits from the actions like "the indices are supposed to track the market, they can't do that if they exclude these IPOs", and i described the natural simple arithmetics how it happens. No conspiracy. Just arithmetics. You can verify it.
You claim this to have been engineered somehow