I utterly disagree. The JPM coin is hilarious. There is no tech to back it up, there is barely even any need to use blockchain for what they're doing. The old argument gets raised every now and again: 'banks will use the ripple tech but not XRP, they will use their own coin instead' - this doesn't make much sense. XRP is the native coin to the ledger, and the only native coin. Sure a bank could use it's own coin, but why? Where is the competitive advantage?
They don't need to compete with Ripple, they are not offering a new coin for people to buy it or invest in. They are just issuing an internal coin for their internal procedures, the only thing they need from this coin is that it works well for them. Having their coin allows them to control everything and not depend on an external company or an external blockchain that could cause problems at any time.