They are of the point of view that since internet cannot replace the newspapers, the same is true with the banks. Being a crypto lover, i would love to see banks eliminated but does these big people with so much money will let that happen
In my opinion, there is no way for any cryptocurrency, even Bitcoin, to replace the banking system. There are too many factors in this direction that prevent this.
Still, we see increased interest from big banks in Bitcoin, and many of them have already acquired a lot of coins in their assets.
That's why I think it's more likely that something in the middle will happen. Banks should start developing their blockchain-based systems and improve current banking systems.