Every few months someone rediscovers that Google also syncs Wifi credentials between devices (perhaps when logging into a new device and finding it tethers itself nicely to the network on its own).
It's a matter of convenience, Wifi passwords are only applicable at a certain range, and other restrictions could be applied even then (like hardware whitelisting etc) it's not your bank credentials.
Here's a reddit discussion (from 2 years ago!) http://www.reddit.com/r/Android/comments/g6ctt/just_upgraded...