Not if you can't run you bank's app on it and without bank's app you can't have bank account. Or interact with government. Or talk to your friends because of network effects around social networks.
I wish it were a real alternative, but it is not the world we live in.
You can run a bank app with Waydroid, and you can (and should) switch from a bank that forces you into the duopoly. I did. Many banks have an alternative authentication device, too.
I wish it were a real alternative, but it is not the world we live in.