This is one of the many attempts to unify login and security procedures.  Think about how many logins and passwords you have for all of the online services you are a part of: Amazon, Google, Facebook, MySpace, your online bank and finances, etc. etc.

What ends up happening is that many people(because of all the logins/paswords created) create very insecure passwords which makes people much more vulnerable to spammers, con artists, identity thieves, etc.

Some other attempts have been OpenID, Microsoft's Passport (now Live ID), Google's OpenConnect.  So far, none have proven to be successful.

I completely understand the original poster's sentiment, however I believe what he is talking about is ultimately a separate issue of a much bigger problem.