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The old App just had you press it to generate a code.
Anyone getting your phone could get access to this app and press it and it would generate a code for him. You could even put it on the start screen.
How is this safer for you?
Are you gonna try to use that the mobilephone itself is the protection? Because if so why can't the new app use that reason as well?
The app itself doesn't give you full access to the Steam account.
With Autologin on they wouldn't know the password. So even if they decide to change SteamGuard or turn it off they would not be able to login onto your account on a PC.
But now it makes it obvious for everyone that the app is one factor login.
The bigger problem, however, is that you cannot SIGN OUT of an account once you've signed in. You'll get a warning that you need to remove Steam guard authenticator first. Now THAT needs fixing.
Just asking, why do you think that anyone who steals a phone would be interested in it's content?
Most who do that make it for the money, so if they do something it probably is a hardreset of the phone to clear everything and sell it to the first fool they run at.
And even then, if you protect your lock screen with a pin/fingerprint/faceunlock you would not have to worry at all as the sverage thief has no idea how to bypass that,
The rest of them would be a bigger Problem, as they usually go after specific Persons and are interested in other stuff then your steam......
The new Steam app seems to have more account functionality but then negates the very thing it was designed to do - provide an independent login element. It's now one-factor without authentication
Exactly it's insane. In fact the 2fa should've been available to use with third-party authenticator such as FreeOTP or even Google Authenticator. Having another separated app such as Steam for this was also bad already but now it's even worse.
Now, I feel safer not using steamguard at all, which is not how it should be...