That's Coinbase, not Bitcoin. Coinbase's business model has been, from day one, to shoehorn the traditional banking business model into the Bitcoin ecosystem,

That's Coinbase, not Bitcoin. Coinbase's business model has been, from day one, to shoehorn the traditional banking business model into the Bitcoin ecosystem, knowing fully well that for the vast majority of people, being exposed to the raw Bitcoin stuff was damn near impossible, both psychologically (being the custodian of your own money) and skill-wise (operating and properly managing a Bitcoin wallet). This is just another application of the same principle.