LaunchKey is capable of removing the need for passwords entirely in your system, so if that's a goal then it's a great solution. It's BYOD so the cost is low or free depending on implementation while simplifying the user experience and greatly increasing security. As far as points to bring up: Removal of passwords relieves the company of a liability of holding onto hacker bait and makes it much more difficult to impersonate another user using their credentials. Dealing with people forgetting passwords and resets can be surprisingly costly and there are alternatives that are easier to use where that will never be a problem.

Where ever you can get away without having to use passwords, I would not. Password-less solutions like LaunchKey can often easily be integrated into your systems and are MORE secure with less hassle.