I don't believe that to be a historically accurate summary Spoons. I don't know if you read my post from the thread link I gave above but it would seem that Ankhenatens motives were not so honorable and more political. More so the teachings he supposedly brought back to the people were inferior to the already established religious system.
As for the priests hiding the ancient teachings, I don't think it was hiding so much as it was keeping it safe. They held the knowledge of some pretty powerful science and in the wrong hands they new it would be disastrous. Never the less it was not hidden from the people. Those who were deemed worthy were able to learn as is proven by the many inscriptions of the Nuk Au Neter (or Pert Em Heru, so called Book of the Dead) found within the tombs of commoners. Just like you would not hand the keys of your car to a 5 year old, neither would you teach the science of self to those who would not use it wisely.