I sold sats to a guy once, who had a device with life-long pre-paid 3G, paper-display and cam. So unless that was a prototype of what you are talking about, this thing did exist.

And no, this does not at all sound like a good idea. The nice thing about hardware wallets is that they are cold. A device like this could be programmed to empty all the wallets all at once at a certain date or upon being called etc.