As others have pointed out, cryptographic authentication is very hard to bootstrap if you simply loose your device. Just last month my missus cracked the glass of her iPhone. Apple repaired it under AppleCare, which is great… except … that they didn’t tell her that the “glass repair” entails them replacing the guts of the phone and wiping it in the process. Apple iPhone backups don’t contain cryptographic secrets lik…
Completely agree. Currently I can perform a full bootstrap using information stored in my brain (with my partner's brain as backup). Any new "solution to passwords" that doesn't allow that means an instant NO from me. I don't care how much more theoretically secure it is.
Some common attack vectors like phishing would be more secure since you more or less automatically generate different credentials for different services, just as you get different access tokens from your oauth service. Token theft is an issue too, but only ever partially compromises you for a limited time.