If the costs of servicing the unbanked can be reduced to be less than the expected revenue, why wouldn't someone serve that market? Maybe Chase Bank doesn't want them but if they can be made profitable, some bank will want that money.
Yes. We’re all used to free checking now, but it wasn’t always that way. No fee credit cards with cash back are also a result of competition and lower costs.
I don't think free checking is a thing anymore, unless you are grandfathered in.
Shop around - it's a competitive market. Many checking accounts with an initial deposit of less than $1000 or confirmed direct deposit are free and have no minimum balance. Some (TD for example) will even pay $150 - $300 to open an account after a few direct deposits.