Why? What advantage does Crypto offer that the current financial system doesn’t. It feels to me to be inferior in the fact that transactions can’t be taken back

Why? What advantage does Crypto offer that the current financial system doesn’t. It feels to me to be inferior in the fact that transactions can’t be taken back, and don’t have a firm legal framework behind it; in terms of cost and latency, a third party is always going to be able to set up a cheaper to run system. What about current banking and finance makes crypto superior in any way?