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That's not what two-factor means. Forget about passkeys -- if you use a password manager, and that password manager has a biometric lock, your accounts don't thereby have a biometric lock as a second factor. The transitive property doesn't apply here.
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I’d say it does apply transitively, but only if the weakest link itself is also strong enough, and passwords are not.
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And even a passkey on a phone that doesn't require authentication is immune to remote phishing and cloning.
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