This is pure opinion on my part, so please bear with me.
In exploring the Everykey website, it seems to me that such a device/service requires some sort of centralized server to operate. It looks a lot like a password manager that syncs to a device that can unlock all sorts of things. Pretty neat, but the trade off is that all of your actual credentials must be entrusted to a third-party service, server, application, or whatever.
While an open sourced version of something like this may exist some day (I do not know of anything that comes close, with the exception of BitWarden, but that is only a syncing password manager), I personally do not trust anything that is networked to house all of those credentials.
Thanks for your reply
I appreciate it