Given their (paying) customer base, which skews more towards content producers, I suspect it's more likely intended to ease setup for less-technically-savvy users.

ie they don't really want your truly-security-critical customer data. But if they can boost their conversion rate with sites like dogfoodreviews.com by 5%, and the price is sending backblaze.com's fantastically-sensitive paid customer data into an unsecured data path, they will absolutely do it.

Comparable to the absolute havoc that Zoom wreaked on browser security to save one click on starting a call.