This isn't something we learned about five minutes ago. It's been known that people lose their phones for a very long time. The tradeoffs were considered when designing the system.

Treating the tech industry as a magical black box that can "solve anything" is disingenous and dangerous. This is the exact same attitude that leads to things such as legislation that says "find a way for any communication to be decrypted upon subpoena. You're tech people, figure it out"