[acdha]

The only way I can see your comment being correct is if you're open to redefinitions of “blockchain” which do not require either immutability or the global public ledger. The current blockchains handle a vanishingly-small fraction of global financial traffic using far more equipment, data, and power — there's no magic wand which can allow you to scale up by many orders of magnitude without architectural changes.

That could be solved by splitting into local blockchains so the global network only handles transactions between local banks but that seems like it's basically giving up most of the benefits claimed in blockchain marketing.

[kybernetikos]

The Ethereum roadmap has sharding coming soon, and architectural changes aplenty. Of course in the near term the approach for scaling is rollups, zk-rollups in the mid term and optimistic rollups in the short term (already running).

Those approaches still have immutability and a global public ledger but that ledger no longer lists every single transaction.