> If you assume that someone is constantly trying to guess a key or password, the likelihood that they guess correctly grows over time.

If they can brute force the password or key, the rotation will, at best, force them to do it multiple times. You'll see more improvement from just adding another couple of characters to the length.

Fair enough, but that doesn't protect you in case of a leak. If you're going to solve for the leak anyway, is it worth it to solve for brute force in isolation? You can always add another couple of characters. At which point do you stop?