But that’s the whole thing we are trying to solve here. We are trying to eliminate human factor and by extension bad habits people have when it comes to security. So expecting people to use good passwords and pins for keys will be the same as expecting people to have good passwords for accounts. Perhaps even worse because of claims it’s better security so people might even relax more.

I feel like it's 2001 and I'm trying to convince my users to switch from passwords to RSA keys for SSH. Yes there are potential weaknesses. Yes it's still much better.

Also timeouts with pins and passwords mean very little once someone has your device. This is why I don’t consider it good two-factor. PIN might be in your head, but nothing is preventing someone brute forcing it. Once you image the device you can do whatever you want. With credit cards, you’d need ATM to keep doing it and lockout is a serious problem there.

Even if all we've done is reduced potential attackers from everyone with an Internet connection to people with physical access to the device we've still massively increased the average user's security. And we've done more than that.

Also unless you can clone the device somehow hitting max guesses and losing access just like an ATM is part of the design.

It’s a step in right direction for sure, but I’d prefer if keys didn’t depend on PIN or password.

I lost track of your suggestion over the weekend but what was your suggestion for second factor other than a pin or password?