Do you think you'll remember that weak password in 10 years time? Or are you thinking you'll brute force it when the time comes? In which case there's not much reason to encrypt in the first place.
I don’t know, but I definitely think it’s easier to remember that string than a 30 characters long random string. I could even use my given name to make it more memorable.
To clarify: I didn’t primarily choose my backup application because it encrypts the backups but because it seemed like a reliable application with a solid user interface. (In Arq, encryption is not optional.)