The problems with passwords you mention, are valid. But, the same situation will happen for authentication - your mom can't remember her email account's pwd, but then you want her to remember facebook, google and all the other services' pwds?? Just think about where is the difference of "remember email pwd" and "remember 1Password pwd" ?? absolutely no difference.
So, while I understand your points, I'm thinking, magic links are the easiest and failure proof and user friendly way, to verify the user.
Another point is: Onboarding is very fast. The new user doesn't even need to bother with input of pwds, verfication, etc ...
for me:
please no account creation in the old style. Give me magic links. Implement a 2nd factor to check, if necessary - but just let them passwords dieeeeee