Technically PayPal is holding the money not by yourself so it's no different from the traditional banking system but it was the beginning of digital payment era when people found that it's easy to make payments with PayPal than going through the banks and their complicated processing for every transactions.
Here you use the blockchain which is not just limited to cryptos so better use the term crypto.
My point was that there was "digital cash" before Bitcoin, and millions of people happily used it. In that context, Bitcoin had to offer something PayPal did not have, which is the ability to thwart government subpoenas into transactions. If Bitcoin was just a slow, expensive, clunky and risky version of PayPal, then nobody would want it and Satoshi would certainly have known that.
That is what I am trying to explain, digital cash is different from decentralized monetary system and that's what bitcoin is offering. And Paypal transactions are reversible while bitcoin transactions aren't, Paypal transactions are faster but the 180 days for chargeback is big red flag while bitcoin on an avg TX gets confirmed in 10 minutes and I feel it's worth the fee to pay what we get.