Ledger is holding an encrypted shard of the seed. Without collusion they can’t do anything. EO6102 is not a great example here. A better example would be when the gov went to Apple for user info, and that didn’t go the way they thought it would. It

Well the seeds have to be somewhere. They can be stolen in the physical world. I think the government would have a much easier time taking your seed phrase from your home or safety deposit box than having to go to 2 different companies. I’m not endorsing this product but keeping your seed phrase under the mattress is not much or any better if you fear a state attack.