The interesting angle here is what this means for passes and
credentials stored in Apple Wallet. If device compromise is
this accessible, the assumption that Wallet passes are isolated
from the rest of the device needs more scrutiny. Apple's security
model relies heavily on the secure enclave but a tool like this
changes the threat surface significantly.
This is always the threat with walled garden style security. When you couple applications so tightly in an intrinsic trust network, on the basis that no external attacker can gain access, then the internal security is neglected and it only takes the weakest link.
