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On Bulbapedia itself: "Pokémon Bank allows players to store up to 3000 Pokémon from the games in an online cloud" So yes, I guess I forgot about the cloud.

The theoretical Pokemon Bank Plus could just be Pokemon Bank but with added goodies and LGPE/Gen 8 support, so I'm thinking Bank will be scrapped, but not really. Also, I think transferring Pokemon from one generation back a gen should be possible, just not new Pokemon introduced in said...

There is a new Pokemon being announced for LGPE, so maybe some sort of transfer program would exist to connect Generation 8 and LGPE. I think Pokemon Bank would be discontinued for the 3DS eventually, or made into freeware after everyone moves onto the Switch, so it may be replaced by...