I think whenever something is simplified for the masses it’s going to have a central point of failure! I think these wallets if they want to earn trust should have open source software providers all competing to secure it on the software level to give users more choice, also opens up another issue of hacking but okay that’s yoi not doing your own research
In theory any thumb drive can be a wallet or a paper wallet, these cold storage units are a marketing ploy and it works well for them I give them that