Also, if a fingerprint sensor is significantly easier to use, and in practice will deter a class of privacy violations, it could increase overall security. This is a question you can only answer by looking how people behave, not solely with an analysis of the technology.
The fingerprint sensor worries me more that it records biometric information at all. It's one thing to leave fingerprints all around your environment, but there is now the potential to steal your biometrics over the internet. The device supposedly hashes the data derived from your fingerprint, presumably with a hardware-based secret, but I worry someone will find a way around that. (EDIT: maybe this is physically impossible; can someone provide details?)
Also, the issues that CCC discusses about how fingerprint unlocking can be coerced are important. Many law enforcement organizations now have devices that can scan smartphone data, which is bad enough, but at least the use of those devices are controlled. A fingerprint sensor now allows a cop to handcuff someone, jam his or her finger onto the phone, and then to (for instance) delete an incriminating video.
Likewise anyone else willing to use force. Might become the next schoolyard amusement for bullies, if your kid has a smartphone.