I think having an open sync fabric that is vendor agnostic will be important going forwards. Users have a multitude of devices, usually not from the same vendor, and hybrid transport is not enough to mitigate the fact that sync fabrics are not interoperable.
The risk is that password manager vendors will end up implementing virtual authenticators backed by software instead of a secure element like a Yubikey, Secure Enclave or TPM. I'd be interested in the the FIDO Alliance helping bring OS APIs to leverage secure elements to import and export key material that belongs to a particular third-party fabric. It's clearly a sensitive issue because establishing trust between devices, and thus a sync fabric, is a strong phishing target. I also speculate that password manager vendors (e.g. 1Password) and authenticator vendors (e.g. YubiCo) could mutually benefit from agreeing on some APIs to establish trust between authenticators and allow import/export, bypassing the OS vendors.