Blinking via the Blink spell presently breaks concentration, limiting the spells usefulness drastically. I know of no ruling that would suggest the spell would function in this way. Traveling to the Ethereal Plane via blinking is not listed as criteria for breaking concentration in 5e D&D. The spell's implementation is super cool, but if it breaks concentration, its use is problematic.
Most importantly, I tried to send a bug report via the launcher, and filled the form out correctly, but sadly the form didn't work. Further, submitting a bug report via Discord is impossible as there are presently 'too many active threads on the server', some of the threads need to be archived.