"Given that users have a free choice for their password, if users select a four digit password to their online account, it’s not a stretch to use this as a proxy for four digit PIN codes."
Though there probably wouldn't be drastically different phenomenon, I think the actual PIN distribution would be noticeably different. Particularly 1234. It may still be the top PIN, but I don't think it would have the same dominance. People choose trymynewwebservice.ly passwords a lot more callously than their bank password. I have to believe on average people put a little more effort into disguising it.