The thing that trips me up is the ability to make backups in the event it is lost/stolen. Seemingly not all services allow registering an additional key, and even if they do, the practicalities of juggling redundant fobs would be cumbersome.
I’ve only ever encountered that braindead design with AWS, every other place allows multiple keys.
And I can’t say I find multiple keys cumbersome, it’s simply the same procedure again: Click add, insert key and tap the button. Just twice instead of once.