A very large proportion of GSM subscribers use dual-sim handsets, to take advantage of the cheapest available tariffs. This is the norm in price-sensitive markets like China, India and Africa.
Many GSM subscribers use several phones with the same SIM. Outdoor enthusiasts switch their SIM between their smartphone and a rugged dumbphone. Some ladies use a smartphone during the week when they use their normal handbag, but switch to a tiny dumbphone for parties.
The SIM makes life very easy for small carriers to connect new subscribers. In London, virtually every shopping centre and high street has someone handing out SIMs for Lyca or Lebara, two Virtual Network Operators offering cheap international calls to mainly immigrant customers. They can connect subscribers on the spot in a matter of seconds.
IMO we should be working in the opposite direction, towards a proliferation of SIM-like devices in other markets. A physical token which securely establishes a pseudonymous identity on a network is quite ingenious and facilitates all sorts of really elegant HCI.