If people get their bank accounts emptied it's all digital as well, so there isn't much different in this specific case. What's different is that banks (as long as the fiat isn't physically withdrawn) have the ability to reverse all transactions without losing anything. When exchanges lose funds it's lost for ever with how irreversible crypto transactions are.
Exchanges should get rid of hot wallets and manually start processing withdrawals one or two times a day, which might not be what noobs want as they prefer everything to happen instantly, but what else is there to do? Bitmex does it already and not many people seem to complain about it, so let's make it an industry standard. The only risk left is insider theft, but that's impossible to combat when using a centralized platform, so I'm really looking forward to the end of hot wallets.