Hardware wallet that has secure element and a vulnerability is discovered on the secure element:

- throw the hardware wallet in the trash

Hardware wallet that does not have secure element and a vulnerability is discovered:

- just upgrade

I also find it curious the defense of the secure element and at the same time defend the open source, the current secure element are not open source and less open hardware.

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Discussion

I think you mean the successor to Truecrypt which is Veracrypt.

Bitcoin and Cold Storage using Veracrypt.

https://nosl.ink/tR-ytGP6)

I was referring specifically to the fact that I know of no exploited vulnerabilities in Truecrypt/Veracrypt and a few in bitlocker when using the TPM chip which has an architecture similar to a secure element.

Truecrypt/Veracrypt and LUKS are superior in all respects to the model used by hardware-dependent bitlocker.