I wrote that U2F implementation in software because I wanted phishing protection without needing to carry a hardware key. Well, and to learn Rust :) It's certainly a security trade-off to just store secrets in your keychain like I choose to, it is not meant to be a replacement for a hardware key and in fact I have a Yubikey I use when the situation calls for it.
I'd love to use TPM and biometrics to implement U2F/WebAuthn on Linux and have a proper, secure solution. Similar to what Apple has done with Touch ID. But that's no easy task. TPM support is poor on Linux and other options like relaying auth requests to your phone for approval and storing secrets in the Secure Enclave is no easier.