There are still advantages to public key auth. Sibling comment mentioned resource use, but also consider ease of use: are you setting a random 64-character password on every machine that has SSH server installed? Would it not be easier to generate one ed25519 keypair, apply a reasonable passphrase (and/or use disk encryption), and then you have secure auth on all your machines without a password manager?
If you're _not_ setting unique 64-character passwords per server, then you should consider what happens if your super strong password is discovered -- an attacker would have access to all your boxes. Compromising a key is harder than compromising a password.
If you're _not_ setting unique 64-character passwords per server, then you should consider what happens if your super strong password is discovered -- an attacker would have access to all your boxes. Compromising a key is harder than compromising a password.