Earlier quoted context omitted.
The only person guaranteeing this is the case and will stay the case is the person keeping your passwords. That seems to me to be a pretty wild thing to have faith in.
Companies aren’t people. Compare the benefits to a multi trillion dollar company to maintain security vs the minimal benefits from using your passwords for anything. They really want to avoid the risk from anyone inside the company having access to your passwords and then doing anything with them.
Compare the consequences for a large company vs an individual.
For the individual, if caught, a debilitating fine and, depending upon damages, jail time. Probable end of career, if related.
In short, life changing.
For the company, possible fine almost certainly less than the revenue made. Small chance of larger civil suits, with legal costs and possible judgments. Depending upon visibility, perhaps some additional PR spend. Even if the sum total cost is greater than the associated revenue, those costs can be used to offset tax liability.
In short, low risk of existential threat, or even actual financial loss -- just reduced profits.