Egypt, land of the free for ancient Greeks?

The well-known Greek trading emporium of Naucratis was established as early as the 7th century BC in the Nile Delta, where they lived in harmony. 

So far, it was accepted that these Greeks had fled the quarrels and wars at home to form a trade settlement in Egypt. The unexpected result was that although they came from different tribes and areas, they lived and worshipped together, which was a first but massive step towards creating a Greek national identity. As mighty Egypt allowed them to operate a lucrative business, even granting them special privileges, Naucratis eventually became a melting pot of Greek and Egyptian art and culture.

[Map from Wikipedia]

Recently, researchers have tried to explain what triggered these Greeks to move. At the time of the settlement, Eastern Greece suffered from the dominating power of Lydia, which ruled over western and central parts of Asia Minor (today’s Turkey). The Greeks resented their forced tribute to these Lydian lords. Since the Lydians had a formal alliance with the Egyptian Empire, it is now thought that a group of smart businessmen used this alliance to set up a trading post in Egypt. They still paid tribute to Lydia but enjoyed certain rights and liberties, acting as their representatives in exchange. This way, they made the best of Lydia’s oppressive regime.

This latest theory overturns the previous idea of Naucratis being the land of the free for the Greeks. Despite their new trading opportunities, they still had to pay taxes to the ruling Lydians. Although the Egyptians controlled Greek trade and were still mediated by the Lydians, they contributed to both allied parties' ambitions. It makes one wonder how profitable this trade settlement really turned out to be.

It would have been interesting to know what Alexander thought of Naucratis, which he must have crossed on his way to Siwah, but unfortunately, no such comment has survived.