The debate seems to primarily wage on this quote from the DMG (not sure if this is 2014 or 2024 or both).
Normally, creatures in the Border Ethereal can't attack creatures on the overlapped plane, and vice versa. A traveler on the Ethereal Plane is invisible and utterly silent to someone on the overlapped plane, and solid objects on the overlapped plane don't hamper the movement of a creature in the Border Ethereal. The exceptions are certain magical effects (including anything made of magical force) and living beings.
School 1: The last sentence notes an exception to the sentence right before it which focuses on movement. Aka certain force effects can hinder movement into the ethereal such as wall of force. The proponents of this one utilize a Jeremy Crawford tweet, and the fact that wall of force and similar force spells actually note that they extend into the ethereal plane.
School 2: The last sentence notes an exception to the whole of the paragraph, which includes attack. Aka certain force effects can hinder movement AND certain force effects can attack. Proponents of this school note this is more proper sentence structure than in school 1.
Based on my reading, I think school 1 is the more proper one. It also prevents abuses like an ethereal warlock just standing there blasting people all day completely safe in the ethereal.