This would thwart brute force attacks, but not be a significant cost for users. If you could attach your login to the crypto account it would mean the account would have to be funded to allow the attempt. The token wouldn't store passwords it would just be a gatekeeper to the login attempt.
The fees would be paid to the service providers as mining fees.
E.g. foo@bar.com needs a password and a token provided from a designated crypto address to gain access to the service.