The OP asks, "...does the notion of an eternal universe dispense with the notion of creation altogether?"
As the OP mentions, answering the question in the process, there does not seem to be anything about an eternal universe that would stop it from being also a created, eternal universe. Creation could happen as in Occasionalism. The universe's beginning and ending, its creation, could be constantly going on. There need be no problem with letting such creation occur as long as there is a creator to perform it.
The conflict underlying an eternal universe or a created one is not how long the universe has been around, but the presence of an agent capable of creating the universe.
A half-way point between an eternal, non-created universe and an agent created, eternal-or-not one is what happens with emanation. Here is what Wikipedia says about emanation:
Emanationism is an idea in the cosmology or cosmogony of certain religious or philosophical systems. Emanation, from the Latin emanare meaning "to flow from" or "to pour forth or out of", is the mode by which all things are derived from the first reality, or principle. All things are derived from the first reality or perfect God by steps of degradation to lesser degrees of the first reality or God, and at every step the emanating beings are less pure, less perfect, less divine. Emanationism is a transcendent principle from which everything is derived, and is opposed to both creationism (wherein the universe is created by a sentient God who is separate from creation) and materialism (which posits no underlying subjective and/or ontological nature behind phenomena being immanent).
With emanation our universe would be eternal or not depending on whether whatever emanates us, law of nature or Platonic form or other transcendent reality, is itself eternal or not. These emanating realities, if they exist, need not make a choice and so the mindless act of emanation is not an act of creation requiring an active agent.
The two other positions, creationism or materialism take solid stands on the issue of agency. To see the significance of agency consider some thoughts about the big bang, one from a religious perspective and one from a materialist perspective.
From the religious perspective, consider William Lane Craig's reference to al-Ghazali in Theism, Atheism, and Big Bang Cosmology, page 66:
Why did the universe begin to exist when it did instead of existing
from eternity? The answer to Kant's conundrum was carefully explained
by al-Ghazali and enshrined in the Islamic principle of determination.
According to that principle, when two different states of affairs are
equally possible and one results, this realization of one
rather than the other must be the result of the action of a personal
agent who freely chooses one rather than the other.
What creation provides is the existence of a personal agent who makes choices, one of them being whether to create the universe now or at all. If the universe is not eternal, that just reinforces the belief in the existence of such an agent making a choice.
From the materialist perspective, consider this quote from the Epilogue of Lawrence Krauss A Universe From Nothing, page 181:
As I have argued, one person's dream is another person's nightmare. A
universe without purpose or guidance may seem, for some, to make life
itself meaningless. For others, including me, such a universe is
Note the "without purpose or guidance". It is important for the materialist to emphasize the lack of agency, the lack of choice, in getting our universe from nothing just as it is important for the religious person to emphasize the likelihood of agency.
Let's return to the question: does an eternal universe make a created universe unlikely? The word "eternal" suggests what is important is an issue of time. The word "created" suggests that the important issue is one of agency.
Craig, W. L., & Smith, Q. (1993). Theism, atheism, and big bang cosmology.
Krauss, L. M. (2012). A universe from nothing: Why there is something rather than nothing. Simon and Schuster.
Lee, Sukjae, "Occasionalism", The Stanford Encyclopedia of Philosophy (Winter 2016 Edition), Edward N. Zalta (ed.), URL = <https://plato.stanford.edu/archives/win2016/entries/occasionalism/>.
Wikipedia contributors. (2019, March 27). Emanationism. In Wikipedia, The Free Encyclopedia. Retrieved 22:13, April 13, 2019, from https://en.wikipedia.org/w/index.php?title=Emanationism&oldid=889763838