Then you get locked out of like 9 things at once when {you ragequit github for political reasons and forget to migrate everything, google kills yet another thing, google locks your account for funsies, apple locks your account until your macbook pro refund is processed correctly,....}
Neither of which the web currently has.
I think passwordless-only is a bad call for the consumer market. Notion ran passwordless for years but we dealt with constant issues of users losing access to their email and having no (easy for them) way to prove ownership of the related Notion account. We switched to normal password accounts.
It bears the same risk of the unique access being lost as having unique access to your finger for finger print scanning, minus the risk of physical injury on compromise.
And I don't like federated emails because I can't tell Google (I can tell FB, ironically) that I don't want all my data shared with the service I'm logging in with (some services like Samsung phone stuff wants to get everything)
So thanks but I'd rather only share an email/password in some cases
What can happen is better federated SSO using OAuth2 like Apple, Google, FB, Github, and/or similar for web applications to defer or eliminate yet another mandatory password.