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In a lot of ways - yes - but crypto is still a fairly new concept which I don't think has hit a mainstream audience just yet. The fact that they've teamed up with banks is a great way to showcase to a larger audience the benefits of using blockchain technology.
I think once people get more comfortable with this idea, they'll be more open to the other cryptos.

I agree @littlesis

Cheers - what are your top 2?

Personally I think it's a bad thing. I prefer to get the banks out of the system completely. We don't need them anymore.