Indeed I always thought that rule under Galadriel would be like when Sauron was around in the guise of Annatar. Most would think her benevolent, looking out for the good of all, but eventually she would claim control of everything. We can't forget that (according to most versions of her stories) she came to Middle Earth looking for power and that she was counted the greatest of the Noldor alongside her Uncle. Look how much trouble Feanor managed to stir up.
