Earlier quoted context omitted.
Lots of sites do this, it’s a feature for the majority of users who prefer convenience over security.
I find that passwordless links usually expire after 1 use or some amount of time; generating eternal alt-passwords for an OkCupid account in every message notification email seems pretty heinous.
As mentioned in another comment: this is one of the reasons I laughed when they made a grab for everyone's phone numbers, claiming it was to prevent people from haxxoring your account.