Naah… it’s too useful. Aside from it being cheap storage that any PC will accept, I can still use a tool like tomsrtbt with a floppy drive, but not with any of your overpriced CD-RW or Iomega’s Proprietary Floppy Format.
The BIOS is obsolete (real OSes, like Linux, don’t use the BIOS at all once they’re running), but the floppy drive has a few good years in it yet.
If Windows Bitlocker had existed back when this thread was started, could it have alleviated the OPs problem at all? 
Probably not. Bitlocker is disk encryption, not access management. I didn’t read the whole thread but the kid probably got access some other way (keylogger? admin account?) rather than cracking anything on the disk.
Newer versions of Windows do have better password encryption and access management, but not because of Bitlocker.