Does anyone else get the idea this is just a turbo-charged horse and buggy? Have they actually done market research beyond "oh that's cool" to "I actually have

Does anyone else get the idea this is just a turbo-charged horse and buggy? Have they actually done market research beyond "oh that's cool" to "I actually have pain pulling out a separate card?" It seems like they are making an age-old start-up mistake. Swift death to the founders so they can move on to something far more interesting than a re-imagined credit card.