When the banks take over

If all the new, small and some shady exchanges get squeezed out of existence and the legacy banks step in to ‘help’ the bitcoin community. They buy up, or hold customers deposits because it is easy and safer to let the trusted banks do it. Of course, they will do what they do with fiat and lend out 90 against the 10 they hold. What impact does that have on the value proposition for the future? Just a thought experiment as I continue to slowly stack and hold.