How does this gun fit into the reality that there are millions and millions of "regular" firearms in the country.
How does this gun make things safer all around.
It doesn't.
As with all tech, it only sells if there are use cases (real applications) for them.
This thing realistically has one viable use case: home defense gun storage. The owner and adult residents might have their biometrics stored in the gun, but kids, thieves and other unauthorized users would not be able to use it. That assumes there are no methods of defeating either of the 2 biometric functions -- face and fingerprint.
There is another use case that people naturally think of. Whether it's for open/concealed carry for non-LEOs, or as duty sidearms for LEOs, losing control of your weapon can mean it gets used on you without biometric security. However, there are situations when you don't want biometrics enabled, like a Cop hands his partner a backup piece because the partner's gun malfunctioned or isn't in his possession. There may come a time when the pistol needs to have all safeties disabled. Without that feature, it will be difficult to trust your life to it.
Then there's the range practice scenario. What happens when your family member or friend goes shooting with you but doesn't have a firearm? Are you going to go through the process of adding their biometrics into your guns' system just for an hour or so at the range? What if it's a group situation with everyone trying each other's firearms? In that environment, biometric security makes no sense. You'd want to remove everyone's biometrics from all your range guns when you return home if you want to keep them secure, too.
Some downsides are a matter of convenience, some are about dependability in a critical situation, and some are simply limitations caused by the design which don't exist without the security system.
As I said before, i'll think about trying these new technologies once police departments have tried them out for a few years. Otherwise, i could see a regular pistol for carry, and a BIOFIRE pistol for quick access in my home.
One thing that worries my is the potentially false sense of security these things create in people. If you "know" the gun is safe because of the biometrics, what happens when you hand the gun to someone just asking to check it out -- and the safety system fails? Would you have given them the pistol without that security system? Would they have handled the gun more carefully if they knew it was not being made safe by technology?