My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.
On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.
I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world