It’s a win for @Marqeta that @Square launched it’s checking account product at Sutton vs. Square Financial Services (the ILC). Should mean all that new debit card volume runs over the $MQ processing stack. 
The Square team is super sharp, so I assume they negotiated for an exclusive ABA routing number for the checking account product. This + a contractual right to move the ABA BIN would allow them to migrate the ABA routing number without having to reissue checks.
And assuming they negotiated to remove the issuer name from the physical card, they can move the debit BIN to their own ILC without having to reissue cards.
Both of those provisions could come into play if they activate the breakup/migration clauses that are typically found in bank sponsorship agreements. Would let the new checking product move to the ILC, once the ILC is ready.
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