This is a valid point. Banks should compete for customers by providing value. They should also be free to decline customers to ensure quality. However, debanking due to perceived or real regulatory risk is ultimately a political act. The banks may not be exclusively political actors, but they are incentivized to act outside of market concerns by state pressure.
Similarly, one of the alleged intentions of the cryptocurrency movement was to decouple the state from monetary control.
No it isn't political it's a "you guys are expensive and flighty and killed two banks that served you" decision. VCs pull money out of banks having a hard time while JP Morgan put money in.
Similarly, one of the alleged intentions of the cryptocurrency movement was to decouple the state from monetary control.