It was only digits initially (https://old.reddit.com/r/signal/comments/oc6ow4/so_a_four_di...), with nothing preventing very easy ones like "1234", but even after they fixed it they continued to call it a PIN and many people would just assume is a number ("number" is right in the acronym), and often a very short one. Most people didn't want to set a PIN at all, they'd been being nagged about setting one and then got nagged again and again to reenter it.
It was not clear to most people that their highly sensitive info was being uploaded to the cloud at all let alone that it was only protected by the PIN. I wouldn't be surprised if a lot of people picked something as simple as possible.
https://old.reddit.com/r/signal/comments/gqc2hu/the_new_pin_...
Their announcement post says "at least 4 digits, but they can also be longer or alphanumeric", though maybe the feature had launched before that was written? https://signal.org/blog/signal-pins/
Far from ideal I agree.