Encryption is worthless without properly enforcing it. How easy is it to trick your victim's bank into granting you access with a SIM swap? We need 2FA everywhere and stop relying on SMS for authentication.
I agree that we need 2FA and that we shouldn't rely on SMS. That said, saying encryption is worthless because other threat vectors exist is a bit hyperbolic. Security is all about defense in layers. There's several orders of magnitude difference in the difficulty of performing a SIM swap attack vs sucking up passwords on coffee shop wifi.
