Physical keys can easily be copied, and physical locks can easily be picked. That might be fine for your house or storage unit, but for your bank account or your car (newer cars no longer have simple physical keys/locks), we've moved beyond that tech.

That any and all physical security measures can be defeated is a feature, not a bug. Almost no human beings actually need that level of security, and the tradeoffs are absolutely not worth it for those of us without Mossad as a threat.

How often do people lock themselves out of their own house? Don't you know anyone with ADHD? Imagine any time that happens it is mathematically verifiably permanent as a fact of reality itself. It doesn't matter that the state still views you as the legal owner, you are never allowed in ever again.