Prrrrrobably not? If Etheirys has a will, it's inscrutable and indifferent to the happenings on and around it. Etheirys didn't help the Ancients with the Final Days, despite their (ostensible) millennia of devotion to improving it, and would have been annihilated in the same. Kinda why Zodiark got summoned, y'know?
Having some greater power would be contrary to Endwalker's existentialist underpinnings, and it's a piece of artwork for the game's 10th Anniversary, in which Hydaelyn played a pivotal role; and as mentioned Amano's artstyle isn't 100% consistent, so that's totally no reason to think it's not Hydaelyn.
Maybe I'm wrong, but I can't see it as anything other than Hydaelyn given the context.