Um...isn't this pretty much the same as the MagicBands over at WDW? They act as a ticket, FP, payment system, room key, etc. But I don't see how this would necessarily prevent tickets from being used by the "wrong" person...you could just give your phone to a friend for them to use. While some people probably can't go an entire day without there phone, there would be some who could and would do that in this scenario. So you would still need some type of identification system; be it a photo or biometric scan (like WDW) or similar.
This is one that I don't understand. Just because you've visited the park some number of times and make a certain number of purchases, why does that mean you should get to bypass security? What would stop someone from saying "oh, I've visited 10 times so I can now bypass security, so now I can bring my gun/knife/weapon into the parks because they won't check"?