You also have to open a keychain twice to see the passwords in it, it just doesn't load on first tap. Probably because the PM of the team won over the PM of "macos should work" team.
But because the PM of needed a promotion more than producing not-junk, of course he did not prioritize feature parity with so that one stayed too. And the PM of SecureEnclave rang and reminded that the use of keychains should be discouraged - they are too portable and the user can just.... copy them? open them? blasphemy.