I know this is too late to help the user who asked this question, but I wanted to offer this info about the subject of Easystore for future viewers.
I was researching this subject for my own upcoming purchase decision and came across a site that I neglected to bookmark where some very techie users were talking about the internal hardware of the Easystore, which answers a lot of the questions popping up in this discussion about that recently introduced WD portable HDD. The users on that forum were obviously the "system admin" types who like to go beyond just the use, connectivity, quality, etc. of a piece of HW. They like to take it apart to use it for parts, re-purpose it, just for the fun of it, ...
What they discovered when they took it apart was very eye opening about this supposedly "new" hardware. It's not new at all, as some responders here surmised. All it is, according to these hardware savvy users, is a re-purposed internal WD HDD with the housing, connections, firmware, etc. needed to make it external and at least somewhat portable (although I would hesitate to move it much knowing the drive itself was never intended for that). This also explains the lack of encryption and password - as an internal drive, they would rely on the OS and networking software to cover them.
They were also discussing the latest change to the Easystore, that enabled them to lower the price as the asker noticed when shopping at Best Buy. According to these users (admins?), they found after opening the case that originally the Easystore housed a re-purposed WD red drive. Since the price of the Easystore was cheaper than the price of the internal red drive, they were cannibalizing the Easystore to get a cheaper internal red drive. Then WD replaced the red drive in the Easystore with a Green drive (a slower RPM blue drive if my memory serves me well) without the SATA connection needed to use it for an internal drive so they quit buying them for re-purposing back to their original use.
You can use this info or ignore it for your own purchase decisions, but it has led me to pass on the Easystore, regardless of price. I already have 2 Passports that I am very happy with, especially since I've lost about 5 TB of data due to other HDD crashes in the past 3-4 years. So that's what I'm going with again this time! Far too many unreliable HDD's that have cost me dearly in lost data and an unbelievable number of hours of recovery time on those HDD's that I could use Recuva to recover at least part of the data from. But good news from the quarterly Backblaze HDD reliability reports - HDD average reliability across all brands, models, and sizes has improved dramatically over the past few years: "A total of 1,225 drives failed in 2016, which means the drive failure rate for 2016 was just 1.95 percent, a modest improvement over the 2.47 percent that died in 2015, and miles below the 6.39 percent that hit the garbage bin in 2014."
Disclaimer: Please forgive me if I incorrectly reported this discussion I can't find again - sorry 'bout that. I'm nowhere near their level of hardware expertise, so what I wrote is my best understanding of this group's very techie discussion.