Viewed objectively, both have advantages and disadvantages, banks should not be completely eliminated, they are still a part of us that we will still use in our lives. Bitcoin is your own bank but there is also the risk that if you cannot operate or store it well your bank can also be hacked by others, internet attacks are increasingly unpredictable. As you say, old people like our parents, grandparents won't be able to use bitcoin, using bitcoin is very difficult let alone storing private key.
Bitcoin holdings are not always profitable or maintain stable value. If you need money while we are in bear season and your assets are depreciating 50-70%, are you willing to use them? Of course not.
Apart from its volatility, keeping a hardware wallet where you store your bitcoin is also more prone to many risks. There is always a danger that you could lose your private keys even if it has many backups. There is also a possibility that the hardware itself could not be working anymore after some years. Replacing a new hardware wallet is not easy because you can't just buy it anywhere, most often you need to order it abroad which will cost you some money if the shipping fee is expensive.