Typical dickish misrepresentation by The Register and a shameful "reporting" on what the patent is really about. It's actually a very good idea and something I've been looking forward to for a while. Make it so that you don't have to enter security details when you are at home or at the office. So your phone can be unlocked when it is in your home but needs security unlocking when you are out and about. Also given your phone can now to be used as a key to unlock your computer through use of the new "handover" API announced at this years WWDC, this will be very convenient. When you are next to your computer with your phone, and you are at home, you will be able to set your policy such that the computer will simply be unlocked. When you are out and about and have your phone (with e.g. touch ID), your MacBook in bluetooth range will similarly also unlock. You might set it such that that only occurs at known locations like home or office. Wherever you want the policy to apply really.
It seems Jasper wants to be a bit of a mewling quim by trying to imply its' some snobby fear of muggers thing. Way to inform your readers Register.