Sorry, you’re just wrong. It does get rid of passwords as the authentication mechanism and replaces it with a private key.

Claiming otherwise is being ignorant on how it works.

Even if someone knows the password to your phone or yubikey, they still need your phone or yubikey. Knowing just the password is useless. If you are a security professional, you would know this is called a possession factor.

If you’ve been having this conversation for years, you really ought to know better.