True story: some newspaper in Poland organize a competition for the weirdest name. The guy who won had last name of 'Zyc or Cyc' (in polish, of course). Basically when his grandfather was registering his name some guy couldn't read it or something so he put 'Zyc or Cyc' and it stayed like this in the documents.
According to this guy when police would stop him and try to write a ticket they would get confused and ask him which one was it? He would say that maybe they shouldn't write anything because their boss will they they're stupid or something. They would usually let him go.
That's not easy. I mean it's not that hard computationally but you're talking about very specific attack requiring some dedicated tools. Real life you would have two scenarios:
This would be bad pretty much only in the very specific scenario of hackers trying to hack my specific account and having leaked hashes of password for this account.
Still I wouldn't really use this method. I'm just saying it's better method than some printed card generating short alphanumeric password.