Hardware "wallets" are better referred to as signing devices. A cold wallet stores the keys and signs transactions entirely offline, meaning the private keys are never exposed to the internet. If you only need to store your sats and never need to spend them, then you don't need a hardware wallet. However, assuming at some point you want to move those sats, then you will need a wallet (signing device).
Discussion
100%. I bloody hate the term 'wallet'. But I guess it is what it is at this point.
Importantly, consider the trajectory of airport security over the past 20 years. Assume that trend will continue. Expect not to be able to take hardware cross border at some point.
HWW have a place but they aren't an excuse to stop thinking critically for yourself about your evolving circumstances.