I don't think this is going to be Hacker News fascinating discourse, but the current USA administration is so openly, brazenly, continuously, gleefully corrupt; continuously fire people with ethics and competence and bring in the in-group of equally corrupt ; and have continuously been rewarded for that behaviour; that I feel the OP is merely observationally factual.
None of this remotely has to do with 'Conservatism', it's certainly not ideological, and it's likely not political either.
This indictment is going to cause a massive headache for White House as they have likely been involved in 'insider trading'.
This is actually regular Justice, finally seeing some movement, to cynically characterize it as otherwise, totally against common sense (aka it's bad for the WH) is just unsound. I think it demonstrates the kind of bubble a lot of people live in, which is maybe understandable in the current climate, where horrible behaviours have gone unpunished. But still. This is the story of a state doj doing their job.
This is a hugely negative thing for the Administration, as District Attorneys, SEC staff, etc. are going to be actively seeking how this could parlay into investigations and indictments of the people in the White House making Polymarket and other speculative bets just before government actions.
There are 100's lawyers reading that right now getting inspired on how they can take action to turn their investigative powers onto whoever those actors are aka family members or associates of those in the White House / Cabinet.
An investigation could be done at the State Level, away from the control of the DoJ, and, if it yields evidence, it wouldn't have to even make it's way through the courts in order to be political destructive.
The suggestion by the OP this has anything to do with ideology or the ruling power throwing one under the bus is ridiculous. Note that the ruling regime isn't above such a thing, but that's not what is happening here because it definitely does not serve their interests - it's the total opposite.
This could turn into a political nightmare that crashes the party.
Edit: if we want to be 'hopefully cynical' - recognize that this could absolutely be the vector that takes the man down, or even many of them. Imagine how many WH, Cabinet Members, family members could get investigated for this and under purvue of state investigators where the investigation can't get shut down.