This presentation by one of the guys at Bitbox claims air-gapping offers little practical benefit:
https://youtu.be/UdNxecnAcF8
As far as firmware updates goes, though, it gives me incredible peace of mind doing it via SD compared to USB, since even if the firmware update is malicious, it can’t extract your seed remotely if it’s air-gapped.
I haven't watched this presy but is he relying on the secure element?
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Bitbox does have a secure element, but this presentation is primarily about whether or not air gapping is beneficial.
The reason I asked about SE, CuckCard uses 2 now so I was curious.