DeFi still has a long long way to defeat the current financial institution because it's still a fairly new concept but, if the DeFi keeps booming the way it is now then I say why not in the next few years DeFi can definitely replace traditional banking.
This DeFi project will only last for a while, it can be said that it is like FOMO because it will be trending at this time, I am sure that in the future DeFi will not have a good effect anymore because there are no investors who provide support anymore.