“The internet is just a fad” … Newsweek, Feb. 26, 1995

I grant you, just like with the Internet there is a transition point where to get on the internet you have to pay high fees (similar to exchange fees) but once internet is cheap and everywhere then lots of services become cheaper and more accessible.

The same goes on with bitcoin. As adoption grows you won't need to exchange for USD, EUR or whatever as much, therefore no exchange fees.

Banks will have to adapt, re-purpose themselves to a certain extend.