I honestly thought this was needed because RAC and some other stuff. Uptime!
Now, a little older and wiser, I know all of these projects would have been fine on Postgres on some hosted provider.
I don't think that ie Postgres has immediate onsite 24/7 support globally, which is much more important for business than pure performance per dollar or similar metrics and they are happy to pay for it. Also trying to find top notch DBAs in Oracle vs Postgres gives, at least here in Switzerland, very different numbers of resources available.
Ie for banks its usually part of their core banking packages and performance-wise not much can replace that (but you need a small army of plsql experts to tame it, although there are plenty of those in the industry).
HPE, Dell, IBM, Oracle itself is building and selling systems designed and optimized for running Oracle databases, for at least a decade now?
I wonder what those banks use for their databases. IMS or DB2 maybe?
Not so say your comment is wrong, there are thousands of banks and average assets of few hundred million. Unlikely they would fork out millions for mainframe setups. Majority of those could be on Oracle as you say.
In these cases generally DBs are migrated to external clusters of their own (like HPE Superdome, Exadata or similarly tailored hardware) and connect via IB or IB like low latency, high performance networking.
AFAIK, the bank I'm talking of is working with "Don't fix what is not broken" motto, and only move what's necessary to modern or external systems.
Good PL/SQL devs are getting a little rarer these days but its manageable.
On the other hand if your product involves on-site deployment then Oracle is most likely not going to stack up.