> Banks [...] will face meaningful consequences for getting this wrong with any regularity

That's false, unfortunately. There's amazing levels of discretion that banks enjoy and minimal accountability to end users. The CFPB (in the USA, anyway) was a countermeasure but has been recently weakened.

More important than "well-regulated" is that a bank account is very clearly tied to a single geographic jurisdiction where the bank's headquarters, as well as all its branches and employees, are located.

Apple would be much harder to regulate, as it wouldn't even be clear what jurisdictions should be involve in the process, and what a "change of jurisdiction" would entail. It would also create the opportunity for fraudsters to choose the jurisdiction which gives them the most consumer protections but has the loosest identity verification requirements.

Not even close to the reality