Hi, just thinking here, when we first setup the nano it gives us a recovery seed right. Then we add our wallets via the app manager. Wouldn't that mean every wallet install I would get a different private key (ie bitcoin and neo couldn't have the same private key). ...
TL;DR: The recovery seed is used to (re)generate a master seed, from all the private seeds for one or more coin types are derived in a deterministic fashion. Ledger Nano S is a Hierarchical Deterministic (HD) wallet.