Link? "Degree of disintermediation", yes, it is central by definition! Is that bad? Well, that's a fancy question.
We already have very few banks, so if that was really what one cares about, I'd say the "disintermediation" Rubicon has already been crossed.
Now, banks has a creative and non-creative function. The creative one is loans, and more broadly subverting the rules to do finance things (insert Minsky things here). The non-creative one is just mere accounting.
I see 0 point why we don't centralize all the accounting as a public utility. Certainly it would be a political argument about AML and KYC getting too strong, not an economic one. Baring such woo woo, accounting is either boring....or fraud! Centralize is to to make less busywork!
Not according to the central banks themselves, who fear the degree of disintermediation it will cause will be bad for the economy.
This was proeminently featured in the report that came a few weeks before the executive order.