The key idea here is replacement is different from recovery.

Recovery can take weeks, months, years, or be impossible (if the cash was burned, or the BTC routed to an account with a lost private key). While all that is going on, FDIC insurance on USD means (in the case of a rifle US bank) the Fed steps in and issues new cash to make the victim whole.

There is neither a mechanism for printing "emergency Bitcoin" nor a "victim's reserve" operated by a trusted third-party to do something similar if a Binance (for hypothetical example) goes rogue.