What is the point of the NM keyring?

[Timothy Murphy]

Some kind soul pointed out that one could get rid
of the demand by NM for a keyring password
by deleting .gnome2/keyrings/default.keyring
and then giving an empty password when requested.

But that made me wonder what possible point
the keyring password could have?
Is it intended as some kind of security device?
As far as I can see, you have to be logged in to run NM,
and if you are logged in you can delete this file.

I might say the same about the KDE wallet system.
How does this make one's part of the system more secure,
since it is open to you to change the wallet password,
or even to make it empty?

I live in an old house with hundreds of locks
on cupboard doors, etc, to which almost all the keys
have long ago disappeared.
It seems to me Fedora is getting a bit like that.

I wish I felt there was someone whose job it was
to make Fedora/Linux simpler to use
rather than just adding more features
with keys and passwords to fit.