The only option I had was was re-entering password for puchases, which is kind of pointless. If somone hacks your account then they should already have your password.

So where is Multiple Account Options on Xbox or changing the language in the settings? lolmao

Because these are security related. “lolmao“ indeed.

I'm happy they're doing this finally, but I wish they would have given us the option of using it with Google Authenticator instead of a text message.

Technically there's the possibility that someone accesses your account from your console with auto-login enabled, and uses it to buy something. It's pretty unlikely as long as you have the console, but say, in the case of theft, something could happen. That said, you can't get money out of PSN, so there isn't really much room for any actual damage. Even in the worst case, you could probably just contact Sony and inform them of the theft, and they'd (hopefully) stop bad things related to your account.

It looks like Sony is getting on board with the phone tracking. I presume it will not be optional for long.