When doing the right thing takes more work than the current situation, people are probably going to do nothing as long as it's not too uncomfortable. It's akin to canceling subscriptions.

I lazily left my 401k at my previous job "running" for 18 months before finally rolling it into my personal IRA. I'm sure I'm not alone in this.

I'm personally of the opinion that it's limited choices. Banks have been merging and suppressing new entries to the business for decades. Around here, there are basically two large banks and a handful of credit unions.