When an Ethereal Dragon is hatched, does its life truly begin? Even after much investigation from dragon biologists, it's hard to say if the Ethereal Dragon is "alive". It does feel, think, fly, eat, breed - all the common characteristics of a living dragon. But even still, there are doubts.
Some Caretakers believe Ethereal Dragons are the spirits of their old dragons, even dragons they used to care for. There's no real proof to support this theory, but even still, Ethereal Dragons feel very familiar to Caretakers, even when they just meet.
Ethereal Dragons may not look all there, but they are solid. Well, solid-ish. You can touch them some of the time, but they feel more like incredibly damp air than a tangible dragon. They can also pass through solid objects, like walls. So their classification, like their consistency, is somewhat squishy.
Epic Ethereal Dragons are sought out by dragon-savvy humans in large numbers, particularly from thieves. Epic Ethereal Dragons have the ability to travel through thick walls - like, say, bank vaults - and make off with the contents inside.