Yes, that's the way I see it. Financials are toast, imo.
Just like most tech hasn't recovered from the 2000 crash, neither will the financials.
The big damage is yet to come to financials. I believe what we've seen so far is just the 'tip of the iceberg'.
Regional banks, like Fifth Third, are starting to show their troubles.
I guess the only way to play financials on the upside, would be to buy Visa and/or Mastercard. People will always use 'plastic' to get what they need, even though they have no money. :~)