[tudorconstantin]

Ledger Nano S protects you against physical theft by having a 4 number pin code. If the pin code is entered wrong 3 times, the device resets itself.

[ecesena]

That's good for a wallet, because misuse would signify loosing money. As these keys are primarily designed for 2fa, the attacker would also need your password to break into your account.

Things may change when 1fa will be more widely adopted, but for the time being we're going to keep it as simple as the "competition" is, i.e. just a button that you press to log in.