People will use it as long as it operates at a loss and subsidizes features that would otherwise be costly at a profitable financial institution. Trouble will come up once their funding dries up and they desperately attempt to make some money.
Given the design and “selling point” of using it through social media I’m assuming they’re trying to appeal to the younger crowd (if it wasn’t for the fact that you needed to be 18 to use it I would’ve outright said kids or teenagers, especially with “Discord coming soon…”) which typically does not have a lot of disposable money either, so less likely to pay for a paid offering and less likely to hold a high enough balance for them to earn significant interest over it.
Similar to Curve, I use it every so often (in a way that’s definitely unprofitable for them btw) but there’s no way I’m ever paying for it because beyond being a novelty it provides a very negligible value. I suspect the majority of their users would think the same.
This is presumably yet another attempt from someone thinking that user numbers and “engagement” automatically translates to profit and I’d be impressed if they’re still around in 2 years time. What I’m really surprised about is why are there investors still willing to fund these attempts.