Fingerprint readers, as Apple uses them per device backed by a strong high entropy password, are good enough for securing the average persons access to a device.
My physical security, something much more dear to me than my secrets, is protected not by keys and tumblers, but by a 1/4 inch of glass that can be cut through in seconds with $5 from the hardware store. Even the key and lock can be circumvented with a rubber mallet and a bump key, or a set of picks. So why use them? Because locks keep honest people honest, and those looking to cause you harm will cause you harm, regardless of what digital security you use.