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They never said anything about Banks.

Conceptually, a service provider utilizing Ethereum could create or aggregate on-chain services and package them in a similar format to what a bank is today with very little overhead.

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Conceptually, yes. In reality, no major bank would ever do it.

It is already happening. ANZ, one of Australia’s top 4 banks released a Stablecoin on Ethereum earlier this year.

https://www.afr.com/companies/financial-services/anz-the-fir...

Lots of companies released blockchains and coins. It's called FOMO, or "Metoo-ism". Interpreting this (or IBM's blockchain) as signs of a significant market shift is a triumph of hope over realism.

I heard exactly the same said about AWS in 2009, now almost every major bank uses it. Once something is shown to be more efficient those banks are going to have to adopt it or justify their inneficiency to their shareholders.

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