Their plan is all wonderful, until you are out on the town after a few beers and the algorithm decides you are not the owner of your phone or car or bank account anymore. Dead phone? identity unverifiable.. New area?, device stolen, lockout initiated... Drunk at the ATM? heat signature and funny expression denied, no cab fare for you...

Security needs to stick to the 3 basics: something you are like biometrics (as a username), something you have (like a keycard\fob\bt device), and something you know (like a password). Messing with this combination is just giving up control and asking for trouble.