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The UK government has you that way too - you are legally compelled to reveal any passcodes if ordered by a court, and you’ll stay in prison until you do. (Regulation of Investigatory Powers Act 2000)
But it at least does remove them from third party exposure (phone company, their AI, massive breaches etc), you just have to be sure your own security is good.
So what’s Google doing? I assume they’re impacted by the same regulation.