I think this approach is not bad, it all depends on what income is in your country. Firstly, in the country where I live, banks cannot provide such interest rates when investing in dollars. 0.6*12 is 7.2 per year, and this is taking into account that this investment is not in some country with a weak economy, where inflation is 30 percent per year. The main question is where to get 100,000 dollars, because this is even problematic for the CIS countries, not to mention African ones.
I know 7.2% per year in usd is quite high for traditional banks but you can find even better rates than that using defi
15% apy is common and sometimes even higher like 30% if you go the stablecoin pools route
of course this comes with a risk but maybe with these new bank apps we will see slightly better options being offered for non technical costumers.
You seem to have forgotten the risk involved in centralised platforms where those investments with huge Apy are done, if you consider the risk, you will rather go with traditional investment. Remember that no platform have been able to create crypto insurance so putting money in these platform is more or less exposing 100% of your money to risk. This is not the case with banks that are backed my insurance.