The immune system isn't usually that self-destructive
Type-1 Diabetes
"Marc Andreessen’s venture capital firm, Andreessen Horowitz, has invested just under $50 million in Bitcoin-related start-ups."
i.e. Even if he doesn't believe a damn word he's saying - he's heavily invested enough to need to make it work.
So - knowing that the app needs to somehow either cache this info in a way it can get it back to login, or have you re-enter the password every time, I'll ask again:
What SHOULD they have done differently.
So, what's the solution? We're NOT talking about a password file that can be stored in a hashed manner - that's receiving and verifying passwords, not sending them. Web browsers don't store cookies/tokens in an encrypted manner - if you got them you could use them elsewhere (assuming they weren't tied to IP address or whatever).
So - (and I'm asking literally, not rhetorically) what should they have done?
I couldn't imagine having to deal with syncing my iPhone to my toothbrush all the time to pull reports. As this type of "smart" technology becomes more and more ubiquitous - we'd start to do this with everyhing. Our bathroom scale. Our electrical meter. Our themostat, our car, whatever. Having everything talk Wifi ("The Internet of Things") is one thing - and even has its own issues - but this clearly is getting out of hand.
When I can get the damn bluetooth speakerphone in my car (or any car) to work reliably - I'll think about it...
Understanding is always the understanding of a smaller problem in relation to a bigger problem. -- P.D. Ouspensky