Also, even when they are up and running, I suspect it will be harder than expected to gain traction in Hong Kong at the moment anyway due to a number of factors.
In times of uncertainty, people tend to stick with known believing (rightly or wrongly) it's safer. In this case that means keeping your money in a known bank rather than exposing yourself to something new. Also, the traditional banks are upping their game - day-to-day banking is all but free: there are no account charges, no changes for local payments/cash withdrawals, no changes for credit cards and no charges for holding securities. The only charges most people will pay are for international remittances (including FX conversion spreads) and trading in securities. Unless you do a lot of the latter, it seems that the incentives for opening a new bank account are unlikely to justify the cost and inconvenience of going through the account opening process?
Also, the traditional banks have upped their game in terms of mobile access giving even less reason to move an account over.
In summary, I'm struggling to see why I personally would benefit from opening an account with one of the new virtual banks?