> Or am I getting something wrong? Yes, we're talking about passwords, not private keys. Virtually all passwords found in the wild have a massively lower entro

> Or am I getting something wrong? Yes, we're talking about passwords, not private keys. Virtually all passwords found in the wild have a massively lower entropy, so the amount of possible hashes doesn't really matter, only how long it takes to iterate through our much smaller password space. The longer that takes, the less attractive it is for attackers to try and brute-force people's passwords so they can try them on other services.