No that's not it, Randall is gesturing at utility theory -- the password is to something indifferent, so the person would decide that's it's not worth being bea

No that's not it, Randall is gesturing at utility theory -- the password is to something indifferent, so the person would decide that's it's not worth being beaten over (with the wrench) over. He's implying that the stuff being protected isn't that important.