That’s a good solution to avoid needing to run the software on insecure devices! However, I still think most people are going to run into trouble with multisig, SSS, or anything similar.
Here’s some of the major locations I could think to store wallets/shares in: at home, at parent’s house, at best friend’s house, in storage locker, in safety deposit box, in password manager, etc.
Hypothetical: Let’s say you have a 2-of-3 system with one share at home, one share with your parents who don’t really understand crypto or technology in general, and one share in your password manager. What do you do when your house is burgled, but when you go to retrieve the share with your parents, you find out they misplaced it?
Or what if your parents understand the share’s importance, but you come looking for it 10 years later? Will they still have it?
You could also have a falling out with your friend or your bank could drill and “misplace” the contents of your safety deposit box (there’s plenty of such stories online). I’m not saying it’s impossible to use a backup system like this, but I think people should carefully consider whether they will be able to keep up with the maintenance required. Will you know if your system is compromised before you get robbed or hacked and need the shares you stored elsewhere? You could add more redundancy with more shares, but then you need to manage even more complexity.
And if you have a password set on your hardware wallet, you would ideally have that backed up too, but how are you going to do that?
If you’re wealthy, you could pay the right people to handle most of these issues, but regular people often don’t have the time or energy. Your backup system needs to last decades, not months or years.