While the ability to show the password can be useful at times,
the existing implementation is problematic:
1) The use of a switch is wrong (as even noted in a code
comment).
2) It is inconsistent with any other password dialog (login screen,
polkit).
In lack of a properly designed solution (for all password dialogs),
the designers agreed to remove the switch for now.
https://bugzilla.gnome.org/show_bug.cgi?id=658948