In Vietnam, the equivalent 'fdic' insurance is about $3k, if you are lucky. Banks also go out of business there, left and right. So when you generalize about the banking system, maybe in whatever your country is, things are rosy, but in so many countries in the rest of the world, things are a huge mess.

These are all things that based on your comments, don't impact you. That doesn't mean they aren't valid or that the usecase is moot. Try walking in others shoes for a bit before you jump to conclusions about things.