They can serve the same function and one is better than the other at it. You really don't even need a HW wallet. The only reason to have one is to be able to sign transactions from an airgapped device. All sats I keep in my Hot wallet are in Liquid 2FA anyways. The midwit take is assuming I didn't knw HW wallets have more functionality than steel plates.. Of course they do. Steel plates are far more important than a HW wallet. My statement stands correct.