Will the superannuation industry therefore mimic the banking industry in 2025? With few large players and no threats or competition?Explain.

There is also the issue of reduced competition within the industry. With the removal of small funds, the industry will see large funds grow even more.

Will the superannuation industry therefore mimic the banking industry in 2025? With few large players and no threats or competition?

The removal of competition will result in less incentive for funds to improve their services or reduce their fees. Instead the market will be subjected to the pros and cons of oligopolistic competition, comparable to the banking industry.
There is also a risk that comes with a high level of concentration in any industry. What will happen in the event of a market collapse or security breach, such as hacking?