Of course. As bitcoin isn't a viable currency and no one is really conducting btc->btc transactions, paying salaries in btc or anything else, the only method of utilizing them is going through the traditional, already existing banking infrastructure.

The only part that I may slightly disagree with is that unlike the case of denim or Che shirts, there is at least a theoretical endgame that escapes the traditional framework.

Note that I don't think bitcoin will reach that endgame, but I think that is a slight distinction.