Yes, that was the level reached when they could no longer handle demand and had to block access for "maintenance", which is really disruptive for its users who cannot buy anything or get cash out when the service is down.

But that's why cases like Kenya with M-PESA are so interesting to follow.  With mobile payments being ubiquitous, an individual can use the service a half dozen times in a typical day.  It might be used to pay for the ride to work, then once for lunch, then a couple times for shopping, then again for the return ride, maybe yet again for the grocery trip to make dinner and maybe later another purchase for evening entertainment.   Now that's on the high-end usage pattern but that's not going to be entirely uncommon either.  If the M-PESA fees weren't prohibitive for small transactions (e.g., a transaction under $5 might cost something like $0.70) it might see even wider use.