The point is more so that the pin unlocks a key on your local device and that key is much stronger than the password the typical user would select. Plus it is site specific in a way that your typical user does not do with passwords.
So it's making a system weaker against offline attacks if someone steals your hardware in exchange for making it stronger against phishing. This is probably the correct tradeoff for most people.
A PIN associated with a specific device that been cryptographically linked to your account. So while a seven digit PIN is easier to guess than a password, the physical device is much harder to steal over the internet. It’s defacto 2FA authentication.
Brute forcing offline kinda only works if you have a stolen hash or artifact like that. For a service like Google, they definitely have rate limits on password attempts.
I'm not saying I prefer either one here, just that password authentication doesn't automatically mean you can brute force offline.
So it's making a system weaker against offline attacks if someone steals your hardware in exchange for making it stronger against phishing. This is probably the correct tradeoff for most people.