Excellent point! I was mostly referring to the issue of loss or theft of a single device containing all forms of payment/ID/access not being that different from loss of theft of a single wallet/purse containing all forms of payment/ID/access.

On the note of charge, Apple has recently included a feature that lets certain cards work even when the phone doesn't have enough charge to be normally used. It seems they shutdown the phone before the battery is entirely depleted, reserving a small amount of charge to be used for these cards.

https://support.apple.com/guide/security/express-cards-with-...