Your question is very intelligent, and important. Most people don't think that much about pedalling.
I haven't played this etude myself, but I just looked at the score, and the pedal markings are very interesting, like in most chopin pieces. They are not at all obvious.
Chopin is said to have been a master in the use of pedal. He usually writes pedalling in the score (unlike for ex. Debussy), but must have been aware that pedalling can never be exactly written down. About pedalling Chopin would say:
- "the correct employment of it remains a study for life"
- "Use pedal with the greatest economy"
(se Eigeldinger: Chopin pianist and teacher)
Pedalling in this piece could be done in many ways of course, and I don't think many pianists would do it exactly as it is written in the score (they would at least add some pedal in the long stretches where Chopin writes none, but discretely).
Anyway, when you start to study this piece, the simple rule about one pedal for each harmony would work fine.