for late comers, bitcoin is slow and clunky. If it wants to remain king, it needs upgrades.
My colleagues who recently joined were NOT impressed on how Bitcoin carries out transactions. So, you're very much correct. Banking is better and cheaper.
It is depending on how we see bitcoin. If we see about transaction is very slow and high fee so we will think bitcoin is not the king.
For investment, bitcoin is one and the king. So everything has advantage and disadvantage include bitcoin. I also agree that bitcoin need improve to stay as the king.