I'm the Chrome browser security tech lead, so it might help if I explain our reasoning here. The only strong permission boundary for your password storage is the OS user account. So, Chrome uses whatever encrypted storage the system provides to keep your passwords safe for a locked account. Beyond that, however, we've found that boundaries within the OS user account just aren't reliable, and are mostly just theater.…
For maximum effect, remove doorknobs to make sure people who can't even turn doorknobs can get in. Doorknobs provide a false sense of security.
Oh to hell with it. We can't have people lulled into a false sense of security, and educating customers is bad for biz. Doors themselves must go as well.
It's also key that we plant our feet on this issue regardless of what damn near every person on the planet would prefer: a deterrent against theft by someone unable or unwilling to break a window.