It makes no sense to expect a biometric product operated with a backup/fallback password to displace a password. A+B cannot be an alternative to A.
Biometrics would help for better security only when it is operated together with another factor by AND/Conjunction (we need to go through both of the two), not when operated with another factor by OR/Disjunction (we need only to go through either one of the two) as in the cases of Touch ID and many other biometric products on the market which require a backup/fallback password.
Incidentally, it is not possible to compare the strength of biometrics operated on its own with that of a password operated on its own. There are no objective data about the overall vulnerability of biometric solutions (not just false acceptance rate when false rejection is near-zero but also the risk of forgery of body features and the risk of use when the user is unconscious) and that of the passwords (not only that it may be as low as 10 bits or as high as 100 bits but also that it can be stolen and leaked.)