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PPpro was mismanaged especially badly. Nothing against the amazing community- it's just there were some hardware/firmware decisions by pine that made it especially hard to develop for. Meanwhile, the non-pro version is handicapped by a very slow processor.
There's still some development happening, and the window managers like KDE are still improving stuff on the front end. But you're right, it has slowed down. That all said, this is still the only non-Google/Apple device you can get in the USA that actually kinda works. I used both the non-pro and pro versions for a few months a couple years ago as my daily driver. I could make calls, send texts, connect to matrix, etc. I wouldn't claim that "it just worked" but it did work.
My bank does still allow login and txns to be authorized with a smart card reader. You have to type in fragments of the account number to authorize a new recipient. After that you can send additional transactions to that account without hardware auth.
Pure NFC tokens don't work because you need trusted IO.
For the new ecosystem to win, it needs to have its own user base for companies building apps to recognize it. Even with SailfishOS, the banking apps still require Android compatibility layer, which is slowly eroded with Play Services and Play integrity check disabling those one by one in the coming years.
By which criterion? I'm happily using Librem 5 as a daily driver; wrote this reply from it.
If your bank allows you to access all features from a browser, consider yourself lucky. Mine requires the app to authorize any online transaction.