Not when there is a lockout policy. Big passwords typically lead to data-loss and bad practices for people who don't use a hardware key which has a bigger attack surface than short keys stored in their brain. The encrypted data protection itself has nothing to do with a password since no hardware isolation or policy isolation is used.
If I get free time I'll make a GIT fork and implement the Android keystore which uses hardware isolation on most devices. You can also put the encrypted data in a sandbox that is safe everywhere but jailbroken devices.
Note: I pushed an new apk today, that stores wallet and config data to the device internal data storage.