Sort of... Now most bitcoin experts and/or security experts will always say put your bitcoin in a Hardware wallet.

I don't see this as absolutely necessary. If you have a well coded seed phrase attached to your seed words and kept in different locations, you have really good security.

You need both to access the wallet. Each of them on their own is meaningless.

This is already built into the Bitcoin protocol, thus as long as Bitcoin stays around your security systems is valid.