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In a similar vein, there's also a crowdfunding campaign for the documentary 'Breaking Bitcoin'. It's to be about how Bitcoin was hijacked and throttled. http://flipstarter.breakingbitcoinfilm.com/

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please stop spreading FUD stuff... bitcoin wasn't hijacked and throttled. what happend was that some guy managed to brainwash some people and created bitcoin cash with that money

Then why do I have to wait so long for my Bitcoin BTC transactions to be processed?

You aren’t paying enough to have it processed, is the technically correct answer.

Unless you want a transaction in less than 5 minutes (on average). If you want less than that, like say a few seconds for a credit card, then you have to use something besides bitcoin.

Wasn't the latency and limitation on throughput of number of transactions per second a flaw in design? I remember it that the whole process must have have been redesinged in order to get to what Banks are capable right now.

Transactions aren't free, they incur a permanent storage cost on nodes. Whether that's a design flaw is up to you, but any other solution has other tradeoffs.

The lightning network exists, which I believe can eventually offer more bank-level transaction volumes off chain (still trustlessly) with periodic "commits" back to the chain.

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