I'm quoting something you claimed illustrated "how it works" and said it works "pretty well" in your experience. I'm disagreeing based on my experience.
A perfect example of this happened this morning. I parked the car last night in our driveway on my profile. My wife's phone wasn't in the car. This morning, as we've got builders in the driveway during the day at the mo, I got in to move the car to the bottom of the street. My wife's phone wasn't anywhere near the car and my phone was in my pocket. Nevertheless, after Easy Entry, her profile activated instead of mine.
Each phone is keyed to the correct profiles in settings and this isn't consistently an issue which is very frustrating as there seems to be no logic to it. And, incidentally, it's always her profile that activates for me and never the other way round.