To a degree, but I'm not exactly super thrilled about the fact that banks operate with a zero reserve requirement and lend out all your money to make profits for themselves, while being bailed out when they mess up. They take all of the gains, while assuming none of the risk.

The difference here is exactly that - bail outs. Banks have insurance, are covered by FDIC, can get the Fed to print and give them more money if they need it, will be bailed out by he government if they mess up, and so on. BlockFi/Celsius/whoever have none of that. If they mess up (of which there is a much higher chance since they are not subject to the same oversight as fiat banks), your money is gone.