We're talking about recovery mechanisms, not day to day regular banking interactions. Ultimately, if there isn't a physical branch you can show up to easily, your access recovery time might be pretty inconvenient. This would be a good thing to consider when selecting a bank.

Online only banking is fairly popular for traditional banking services, and wildly popular when you consider money transmitters, lenders, and investment brokerages.

Whatever the problem you think they have with authentication resets -- much of the financial market seems to have solved the problem well enough without in-person resets to have successful mainstream businesses.