When banking via phone app, this is the compromise

The bank requires customers who use their phone app to:

1. buy a new recent smartphone, repeatedly (because the bank’s app detects when it is running on an Android emulator and denies service)
2. subscribe to mobile phone service (which also costs money and also in some regions requires supplying national ID to the mobile carrier to copy for their records which customers then must trust them to secure)
3. share their mobile phone number with a power abusing surveillance capitalist who promotes the oil industry (Google / Totaal)
4. create a Google account and agree to their terms (which includes not sharing software that was fetched from the Playstore jail)
5. share their IMEI# with Google
6. share all their app versions with Google, thus keeping Google informed of known vulns for which they are vulnerable
7. share with Google where they bank and trust Google not to sell that info to debt collectors
8. install proprietary non-free software and trust the security of non-reviewable code
9. share the mobile phone number with the bank

Why are so many people okay with this?