Yep I am not saying that the be-all and end-all of the security, everyone will choose the setup that works for them. You could easily spin up cold storage on a USB thumb drive or an old computer that you don't connect to the internet at no extra cost to you

HWW are great, but they you are trusting the manufacturer and hoping that there was no tampering before you get it and that the firmware remains reliable and that you use it correctly

Everyones stack will drive them to seek the security measures they're most comfortable with using, all about trade offs