Seems like people in the comments are misunderstaning the point entirely. This protocol is about import and export from password managers and not about having them synced between devices. It would prevent a lock in effect. This is a great development!
FIDO Alliance’s draft specifications – Credential Exchange Protocol (CXP) and Credential Exchange Format (CXF) – define a standard format for transferring credentials in a credential manager including passwords, passkeys and more to another provider in a manner that ensures transfer are not made in the clear and are secure by default.