I heard an interview from Wise where they just talked about all the random things they did to just drive down costs. They know people care mostly about speed and cost, so they focus there. It seems to not really be 1 thing, but a million small optimizations.

They could, but, yes, it's too profitable to charge extra margin to unsophisticated customers.

Maybe one day.

Banks probably charge a lot less to those moving hundreds of millions around. But the people/businesses occasionally moving around $1000-$1m have been getting shafted for an eternity.