I think this topic boils down to, in large part, just how much of life and society ends up moving to a non-physical format. In other words, "does The Matrix take over and people are happy living their lives in it?" Banks, governments, etc. will find a way to extract value from Web3, even if all they do is tax the edges where it connects to the physical world. You can have all the crypto in the world, but most people will at some point want to convert it to a physical good or service (at this point in time), whether that's a house, a car, a doctor's bill, etc. and at that moment is when the banks and government take their slice of the pie. The only way to avoid that is for people to generate large blockchain holding without exchanging a fiat currency or IRL asset for it (mining, or exchange of purely digital goods and services... ie The Matrix).

This isn't me cheerleading the old way or the new way, it's me taking a long distance look at things.

If the digital world offers enough value to enough people where they don't mind a one-time exit tax to go digital, this has legs for the average person.

I also think, that at least at this time, we are seeing governments have a lot more ability to put their finger on the scale, monitor, and regulate these things than people give them credit for. China's been able to do it... even in the US which is much more hands-of, the FBI was able to grab a huge piece of the Colonial Pipeline ransom in short order. I don't think crypto is nearly as anonymous, untraceable, or untrackable as people think it is. I also have a strong suspicion that there is a lot of potential for shenanigans inside Coinbase and similar orgs where large amounts of blockchain can easily disappear, be traced, and so on. Those places are total black boxes as far as I can tell.

J.Ja