You are right. This is the major reason coinbase is still in the game.
I don't know why but for some reason one of the first wallets/ exchange newbies get to know about or use is coinbase and blockchain.com wallet.
Like I said they hear about Coinbase too much. Coinbase do advertise a lot and a lot of people takes about them because of the $10 commission if you introduce them in their platform. So lot of YouTubers suggest them and also people in off-line too.
About blockchain.com wallet, I know a lot of newbie think that this is original bitcoin wallet They match the term blockchain with the technology name Blockchain and ends up with this conclusion that this is the wallet.
Trust me, the newbies in the industry are clueless.