For sure, losing private keys is harsh and sadly a risk in today's cryptocurrency world. Whether it will be the same in a few years, I highly doubt that, at least for the main public. This obviously will come with more restrictions, but that's something we've got to live with: you want more security & privacy? Do it yourself. You want less risks? Let someone/something do it for you.

However, my guess is that Peter didn't give a f*anyway, when he first got those tiny amounts of BTC (seemingly around 50$~). This is pretty much part of his gold-agenda, IMO.