Point 2 would be OK. You may have some other weaknesses in both personality and profession development. Point 1, to been seen from some angles, is alos your advantage, at least you understand SOEs very much.
So reflect yourself from different facets further!
Not so big, especially the weakness related to the moral and ethics should be avoided.
Even if the school doesn't request the weakness preparation, you still have to evaluate yourself thoroughly. ( prepare for the interview) No person is perfect, right?
