You're right, and this is really bad. The thing Chrome gives you on top of this is greater discoverability - i.e. a list of ALL passwords - and a few buttons to make it easier for non-technical users.
Someone that does that to me would not get a punch in the nose, but that is certainly what they would deserve.
Regardless, what you suggest is an enormous invasion of privacy.
How about a, "Did you know that within 30 seconds, I can see all your passwords?"