Absolutely correct. As I said in a post a while back, Utopia basically hinged on the mutants segregating themselves on an island and doing fluffy PR initiatives with a sympathetic local community (San Francisco) and not much else. Of course it ended badly, it was a target on their backs.
Now, they have infrastructure and a budding trade offensive/trade war that puts them on potential equal footing with other nations and leaves human governments flatfooted. As well as a sentient landmass capable of defending itself and keeping intruders out. But it is the trade offensive - the Krakoan drugs - that is most important.