It sounds kind of lazy to me. Though I'm sure they would get lots of complaints if they turned it on...some mailing list software depends on spoofing, for example. Or web based "contact us" forms. So perhaps it's just to avoid lots of support tickets.
Take a look in Gmail at a signed email and you’ll see a “Signed by” field in its header info, with a domain name as a value.
Also the SPF setting has nothing to do with the From header either.
In other words the “From” value cannot be protected, unless you sign your email with PGP or S/MIME.
They know who authenticated to the SMTP server, so they could enforce that the From address is who it was authenticated by. Otherwise, they basically act as an open relay.
Plus it's not a unique problem to fastmail.
I demonstrated this behavior to eggsampler after discovering it quite a long time ago by messing around with HTTP payloads in their web interface - it's wild to me that FastMail will use the DKIM private keys from an entirely different FM account to sign your messages.
Unlike eggsampler, I won't be ditching them, but I hope that FM reconsider their policy eventually. That they have awarded themselves the privilege of a "green tick" on their own official emails while throwing everybody else to the wolves is slightly ironic.