Can someone explain to me how this is a better approach than, say, a password manager and TOTP 2FA? I can think of a few downsides: 1) in the US at least, bein

Can someone explain to me how this is a better approach than, say, a password manager and TOTP 2FA? I can think of a few downsides: 1) in the US at least, being compelled to provide biometric identification for all accounts, 2) single hardware device point of failure, on top of that being the most often lost, stolen or damaged hardware device. And all the benefits I can see with it are already served by password managers and TOTP, which the manufacturers can just ship by default if they want to, the tools are there already. And I can back it up in whatever way I choose, securely. So what's the upside?