This is also the case for anyone using unique passwords per site, which is the standard for password vault users. Not much of a win there.
> Additionally, private keys are stored on secure storage in client devices (or need to be decrypted themselves using a second factor)
Also exactly the same as password vaults, but we still stress about Lastpass losing their encrypted vault DB.
I agree that Passkeys appear to bring the benefits of Password Vaults to people not currently using them in a fairly easy way. However, I worry about access to those passkeys when access to the Passkey provider is lost/revoked.