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"People don't want to deal with a hardware token every single time they want to do anything with their money"

Maybe not, but they have to regardless. Banks force this on users anyway (outside the USA). To pay for things I have to use either a chip card (token), or equivalent embedded in my phone (a token), or log in to e-banking using a chip card PIN pad (token) or my phone again, or auth an online CC tx with a phone app (token).

But no matter what I do the only way to move money around without invoking a hardware cryptographic token at some point, is use paper money and physical coins.

So this isn't really something new. Bitcoin was just ahead of the curve in this regard. Also, it's really hard for banks to reverse transactions outside of the USA. What makes bank money "safe" compared to crypto is simply that:

1. Governments will bail banks out because they're too big to fail. Of course you end up paying for it through inflation anyway.

2. Everything is KYCd/AMLd up the wazoo so even if money is drained from your account in the same way it could be for a cryptocurrency, the perps will find it much harder to evade capture.