My thought:

You’re trusting a centralised third party with your decentralised trustless assets?

Also, the hardware wallet is irrelevant, the 12/24 words is the security, not the wallet.

The wallet, multisig or singlesig is just a place you’ve generated your private key and are storing it in somebody else’s building.

If it’s long term asset store, you don’t need a generated private key anywhere.

You might want to look into border wallets, where you can keep your keys in your head.