My guess is that the machine readable chip standards and the production quality required to replicate a physical passport are high enough that only the most organized of organized crime can fake the highest value passports effectively, and if a passport is easy to replicate, it is less likely to have visa free access to most countries.

To second the photographed/photocopied requirements, as an expat, I am frequently asked to send a scan of my passport to people or entities that are not necessarily the most secure.

I also have a couple of important documents that are literally PDFs. My Canadian citizenship certificate is a PDF with a barcode in it, that I can print off a copy of if I need to mail it, or show on my phone to a consular office or a border guard if needed. My work visa here in New Zealand is a PDF with my passport number and a visa number, which my workplace and bank checked with an online database. Fundamentally, these and my passport are pointers to a row in various databases.