It sounds like you're asserting that BitcoinDon't put words in my mouth, I never suggested anything like that.
In Bitcoin the private key is derived from the public key which is normally randomly generated and not provided by the user.
The browser 'password manglers' mentioned here instead derive it directly from the password provided by the user. That is a big difference.
Most users don't choose a password of sufficient strength since they are limited to printable characters and especially when they are required to type it in all the time.
This is why key stretching functions such as PKDF2 and Scrypt were invented. To make relatively bad passwords (which users are prone to choose) harder to crack.
Screwing this particular step up in a tool that wants to be a password manager (of all things) strongly indicates that the creator has no remote clue what he is doing and that everyone should stay far away from his software.