Since virtually every service has a 'forgot password' option, all the OP is suggesting is to formalize this as a default login process for second tier services that are too much of a bother to keep track of.
The net positive, if this were implemented across the board, is that users would focus their efforts on securing a few high value accounts, versus reusing the same password across dozens of low value accounts (chain, meet weakest link).
The net positive, if this were implemented across the board, is that users would focus their efforts on securing a few high value accounts, versus reusing the same password across dozens of low value accounts (chain, meet weakest link).