Singapore blue-chips

Recently, some banks in Singapore have introduced services that allow purchase of blue-chip stocks listed on the Singapore Exchange for small amounts each month. Examples include the OCBC blue-chip investment plan and the POSB Invest-Saver, both starting at $100 per month. What I am wondering is, if more people end up buying constituent stocks of the Straits Times Index, then inevitably this will push up the prices of blue-chips. Doesn't this make blue-chips less attractive to value investors? With the advent and rapid expansion of ETFs, I am also wondering if a company's mere inclusion in the stock market index will artificially inflate its price, up and above the price from a value perspective.