Everyone's talking about how you can unlock the device without a passcode which is minor. Here's what we need to worry about:
Go into Preferences>Safari>Passwords and Autofill>Saved passwords
There you'll find all of your saved passwords in PLAIN TEXT.
I dont have a passcode lock set. My phone rarely leaves my hands and if it were to get stolen I know I would need to change my passwords immediately. That was a risk I was willing to take.
Now, however, instead of having to gain physical access to my phone for a significant amount of time, finding out passwords is a matter of 30 seconds of snooping!
Everyone's talking about how you can unlock the device without a passcode which is minor.
Don't worry, Google says this is all in the name of "promoting security"....
Seriously, though, iCloud Keychain is going to solve this (and you shouldn't be saving passwords in the browser any way).