You are missing a big part of this story. Robinhood will be a brokerage that matches up your orders with several different exchanges so they will be better able to constantly give you the best price to buy and sell at. The no fee trading is just a bonus on top of that in my opinion. Being able to get the best price from all the exchanges is a huge advancement in the crypto markets to becoming more mature.
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I have an article in my blog on steemit that goes more in depth on there coming crypto capabilities.