Except that if you're relying on financial intermediarys (eg, like Visa, as you note), they're going to charge non-trivial fees on top of the core BTC transaction fees that will still have to go on, and that eliminates one of bitcoin's big benefits. We're back to electronic transaction means that skim at least 1-3% of each transaction.
Nobody ever said Bitcoin was going to be the ONLY currency on the planet... nobody thinking it through, anyway.
Bring on the competitors!