My company wants to know if my brother in law works for a competitor. It won't change my job, but they will be careful to ensure that I don't work on things that it would matter if I let something slip over dinner.
The only true conflict would be Fauci's opinion on whether the virus was a lab leak. Which really only matters for political reasons.
That conflict would have no bearing on how to handle the covid pandemic.
We don't know that it was a lab leak or natural; and probably never will. There is the possibility the if it was a lab leak Fauci used his position to hide that evidence to protect himself.
Because of the above Fauci should have disclosed his potential conflict of interest. That way the rest of us can consider his actions to ensure we are more likely to catch him abusing his position.
The above is a normal thing that happens all the time. I'm accusing him of doing wrong by not disclosing this over a year ago. Do not expand that to accusing him of actually doing anything else wrong in handling the pandemic.