The latter is very much the case. There are no Pleiadians present on Earth and certainly not doing abductions and impregnating people. There is a rich history and heritage of human as a composite of star beings including the Pleiadians. This is in the genome of human, but the physical human does not engage with these beings directly. They are in higher dimensions only and do not come here. In fact at the present time they are under a divine injunction to have only limited interactions with humans and this is in order for the human experiment to be uncontaminated in a sense, by not having outsiders interfering, disrupting what is taking place and countermanding the human involvement and short‑circuiting the process potentially of human growth and the successful achievement of mastery of their destiny.
So the Arcturians come under many guises and tell many stories and claim many lineages and identities as suits them, depending on the people they may be interacting with and their knowledge base, their expectations. Whatever will be a useful cover story may be put into use in a particular circumstance. This serves the Extraterrestrial Alliance because it masks the true origin of the beings and it confounds the thinking of people who associate the Pleiadians with benevolent beings and with a lofty origin, both of which are true but not represented by the beings who fly around in spacecraft in the earth plane and manipulate human beings for their own selfish reasons. This is never done to benefit humans. It is solely to benefit the extraterrestrials.
This is the most blatant contravention of personal rights and sovereignty one can imagine—to not only be removed without permission being given but then manipulated physically and to even give life to hybrid beings, never to be seen again, and to be altered in the process and to be heavily traumatized in the bargain in ways that will affect even future generations of their incarnation personally as well as their offspring. This is the most sinister of manipulations and is being done to both corrupt humanity and to subjugate them and to serve in their own control and ultimate demise if that is chosen in the end.