Convinience is a key part. Let's say I have bought a new device and have 50 accounts on different platforms. The way I'd do with only passkeys is that you would create 50 different keys individually for your new device, using a device that has logged in.
Password manager? I download a keepass compatible app, have it connect to my FTP for its database, enter my unnecessarily long key word or a random file i store seperately; and now I can access to all of my accounts.
As long as I do not somehow get both my database and its key word/file leaked at the same time, my accounts are as safe as whatever passkeys can provide.
Your PS3 can play PS2 and PS1 games natively and can emulate SNES, GBA, Genesis and MAME games with CFW.